Pre-6 a.m. Globex Prices: May corn is unchanged, May soybeans are down 3 cents and July KC wheat is up 5 1/4 cents.
CME Globex Recap: Grain traders will take in USDA’s WASDE report for April at 11 a.m. CDT Friday, but prices will also respond to the latest weather forecasts and the possibility of a Friday morning export sale.
Early Friday, Dow Jones futures are starting a little higher with mixed stock markets in Europe and Asia. Since last week’s improvement in U.S. unemployment figures, both Treasury yields and the U.S. Dollar Index have pulled back lower. Inflation remains a concern for many and traders will pay attention to Friday morning’s producer price index for March.
OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 57.31 at 33,503.57 and the S&P 500 up 17.22 at 4,097.17 while the 10-Year Treasury yield ended at 1.63%. Early Friday, December Dow Jones futures are up 56 points.
Asian markets are mixed with Japan’s Nikkei 225 up 59.08(0.2%) and China’s Shanghai Composite down 31.88 (-0.9%). European markets are mixed with London’s FTSE 100 down 19.82 points (-0.3%), Germany’s DAX down 10.76 points (-0.1%) and France’s CAC 40 up 13.07 points (0.2%). The June euro is down $0.0025 at $1.1909.
The June U.S. Dollar Index is up 0.21 at 92.28. The June 30-year T-bond is down 13/32nds, while June gold is down $11.40 at $1,746.80 and May crude oil is down $0.18 at $59.42.
On China’s Dalian exchange, May corn was up 0.4%, May soybeans were down 0.4%, September soybean meal was up 0.1% and May bean oil was down 0.7%. July common wheat on China’s Zhengzhou exchange was unchanged. June Malaysian palm oil is trading down 0.4%.