DTN Grain Open: Markets Keep Pushing Higher

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Pre-6 a.m. CDT prices, CME Globex: July corn is up 6 3/4 cents, July soybeans are up 9 1/4 cents and July KC wheat is up 6 1/4 cents.

CME Globex Recap: Early Friday, Dow Jones futures are trading higher, extending Thursday’s new high with higher trading in Europe with analysts expecting the Labor Department to show an increase of one million jobs in Friday’s nonfarm payrolls report.

Thursday’s jobless claims fell to the lowest level since last year’s pandemic, an encouraging sign the U.S. economy is recovering. Meanwhile, COVID-19 cases in India continue to escalate.

OUTSIDE MARKETS:

Previous closes Thursday showed the Dow Jones Industrial Average up 318.19 at a new high of 34,548.53 and the S&P 500 up 34.03 at 4,201.62 while the 10-year Treasury yield ended at 1.56%. Early Friday, June Dow Jones futures are up 104 points.

Asian markets are mixed with Japan’s Nikkei 225 index up 0.09% and China’s Shanghai Composite Index down 0.65%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.67%, spot futures of Germany’s DAX trading up 1.17% and spot futures of France’s CAC Index trading up 0.27%.

The June euro is up $0.0026 at $1.2090. The June U.S. Dollar Index is down 0.15 at 90.79. The June 30-year T-bond is down 6/32nds, while June gold is up $5.20 at $1,820.90 and June crude oil is down $0.14 at $64.57.

On China’s Dalian exchange, September corn was up 1.5%, July soybeans were up 2.1%, September soybean meal was up 1.4% and September soybean oil was up 1.5%. July common wheat on China’s Zhengzhou exchange was unchanged. June Malaysian palm oil is trading up 4.6%.

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