DTN Grain Open: Soybeans Push Higher Early

Pre-6 a.m. CDT prices, CME Globex: July corn is up 1 1/4 cents, July soybeans are up 12 cents and July KC wheat is up 1 1/4 cents.

CME Globex Recap: Early Wednesday, Dow Jones futures are trading higher with support from higher stock markets in Europe and mostly favorable earnings reports.

Ironically, the yield on 10-year Treasuries came down a little Tuesday after U.S. Treasury Secretary Janet Yellen told an economic seminar interest rates may have to rise a little to keep the economy from overheating, reported CNBC.com and others. The Wall Street Journal explained Ms. Yellen later clarified she was not recommending the Fed raise rates at this time.

OUTSIDE MARKETS:

Previous closes Tuesday showed the Dow Jones Industrial Average up 19.80 at 34,133.03 and the S&P 500 down 28.00 at 4,164.66 while the 10-year Treasury yield ended at 1.59%. Early Wednesday, June Dow Jones futures are up 105 points.

Markets in Japan and China are closed until Thursday this week. European markets are higher with the spot futures of the London FTSE 100 trading up 1.40%, spot futures of Germany’s DAX trading up 1.47% and spot futures of France’s CAC Index trading up 1.24%.

The June euro is down $0.0015 at $1.2007. The June U.S. Dollar Index is up 0.08 at 91.35. The June 30-year T-bond is down 8/32nds, while June gold is up $1.10 at $1,777.10 and June crude oil is up $0.72 at $66.41. June Malaysian palm oil is trading up 0.2%.

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