Pre-6 a.m. Globex Prices: May corn is up 5 1/2 cents, May soybeans are up 7 cents and July KC wheat is up 7 1/2 cents.
CME Globex Recap: Early Wednesday, Dow Jones futures are trading a little higher as signs of economic growth continue, in spite of a pause in the use of Johnson and Johnson vaccines. Later Wednesday, the U.S. Energy Department’s weekly inventory reports will update last week’s gasoline demand.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 68.13 at 33,677.27 and the S&P 500 up 13.60 at 4,141.59 while the 10-Year Treasury yield ended at 1.62%. Early Wednesday, December Dow Jones futures are up 13 points.
Asian markets are mixed with Japan’s Nikkei 225 down 130.62 (-0.4%) and China’s Shanghai Composite up 20.25 (0.6%). European markets are a little higher with London’s FTSE 100 up 10.33 points (0.15%), Germany’s DAX up 4.09 points (0.03%) and France’s CAC 40 up 28.75 points (0.5%).
The June euro is up $.0021 at $1.1982. The June U.S. Dollar Index is down 0.15 at 91.70. The June 30-year T-bond is down 5/32nds, while June gold is down $1.30 at $1,746.30 and May crude oil is up $0.99 at $61.17.
On China’s Dalian exchange, May corn was up 0.7%, May soybeans were up 0.6%, September soybean meal was down 0.3% and May bean oil was up 1.4%. July common wheat on China’s Zhengzhou exchange was unchanged. June Malaysian palm oil is trading up 0.1%.