DTN Grain Open: Wheat Rally Continues, Row Crops Mixed

    Wheat field. Photo: University of Arkansas

    Pre-6 a.m. Globex Prices: May corn is up 1 1/4 cents, May soybeans are down 1/4 cent and July KC wheat is up 10 cents.

    CME Globex Recap: Early Thursday, Dow Jones futures are trading slightly higher with light support from higher stock prices in Europe. Thursday’s minutes from the latest Federal Open Market Committee meeting showed ongoing support for the Fed’s accommodative monetary policy, but some disagreement in opinions about inflation.

    Oil prices are steady to lower as traders weigh prospects of higher production, starting in May with the anticipation of increased demand.

    OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 16.02 at 33,446.26 and the S&P 500 up 6.01 at 4,079.95 while the 10-Year Treasury yield ended at 1.65%. Early Thursday, December Dow Jones futures are up 17 points.

    Asian markets are mixed with Japan’s Nikkei 225 down 21.81(-0.1%) and China’s Shanghai Composite up 2.93 (0.1%). European markets are a little higher with London’s FTSE 100 up 13.61 points (0.2%), Germany’s DAX up 8.23 points (0.05%) and France’s CAC 40 up 30.11 points (0.5%).

    The June euro is up $.0007 at $1.1890. The June U.S. Dollar Index is down 0.10 at 92.37. The June 30-year T-bond is unchanged, while June gold is up $2.20 at $1,743.80 and May crude oil is down $0.35 at $59.42.

    On China’s Dalian exchange, May corn was up 1.6%, May soybeans were down 0.7%, September soybean meal was up 0.1% and May bean oil was down 1.9%. July common wheat on China’s Zhengzhou exchange was up 0.04%. June Malaysian palm oil is trading slightly lower.

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