DTN Grain Open: Wheat Higher as Temperatures Drop

    Image from University of Kentucky

    Pre-6 a.m. Globex Prices: July corn is up 2 1/4 cents, July soybeans are up 4 cents and July KC wheat is up 7 cents.

    CME Globex Recap: Early Wednesday, Dow Jones futures are steady, while European markets are trading modestly higher. Positive earnings reports out of Europe are helping to counter recent concerns about rising infections in India and Brazil. June crude oil is trading lower with caution about rising infections in India and Brazil, but prices are holding above $60.00.

    OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 256.33 at 33,821.30 and the S&P 500 down 28.32 at 4,134.94 while the 10-Year Treasury yield ended at 1.56%. Early Wednesday, December Dow Jones futures are up 1 point. June crude oil is starting lower, cautious with global coronavirus concerns but also holding above the $60.00 mark, so far.

    Asian markets are mostly lower with Japan’s Nikkei 225 index down 2.03% and China’s Shanghai Composite Index slightly lower . European markets are a little higher with the spot futures of the London FTSE 100 trading up 0.37%, spot futures of Germany’s DAX trading up 0.29% and spot futures of France’s CAC Index trading up 0.44%.

    The June euro is down $0.0018 at $1.2027. The June U.S. Dollar Index is up 0.06 at 91.29. The June 30-year T-bond is down 7/32nds, while June gold is up $0.60 at $1,779.0 and June crude oil is down $0.67 at $62.00.

    On China’s Dalian exchange, September corn was up 0.4%, July soybeans were up 1.4%, September soybean meal was up 0.4% and September soybean oil was up 2.4%. July common wheat on China’s Zhengzhou exchange was unchanged. June Malaysian palm oil is trading up 3.4%.

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