Pre-6 a.m. CDT prices, CME Globex: July corn is up 1 1/4 cents, July soybeans are up 4 1/2 cents and July KC wheat is up 3 1/2 cents.
CME Globex Recap: Early Tuesday, Dow Jones futures are trading lower with most overseas stock markets also lower. According to the Wall Street Journal, technology stocks are under pressure in the U.S. and China. European stocks are weighed down by inflation concerns.
RTTNews.com said Japan reported household spending up 7.2% in March and China reported consumer prices up 0.9% in April from a year ago, still a low rate. The Colonial Pipeline remains out of operation for a fifth day.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average down 34.94 at 34,742.82 and the S&P 500 down 44.17 at 4,188.43 while the 10-year Treasury yield ended at 1.60%. Early Tuesday, June Dow Jones futures are trading down 134 points.
Asian markets are mostly lower with Japan’s Nikkei 225 index down 3.08% and China’s Shanghai Composite Index up 0.40%. European markets are lower with the spot futures of the London FTSE 100 trading down 2.06%, spot futures of Germany’s DAX trading down 2.15% and spot futures of France’s CAC Index trading down 1.90%.
The June euro is up $0.0022 at $1.2176. The June U.S. Dollar Index is down 0.10 at 90.09. The June 30-year T-bond is down 11/32nds, while June gold is down $0.80 at $1,836.80 and June crude oil is down $0.44 at $64.48.
On China’s Dalian exchange, September corn was down 0.2%, July soybeans were down 0.9%, September soybean meal was down 0.3% and September soybean oil was down 1.4%. July common wheat on China’s Zhengzhou exchange was down 0.0%. June Malaysian palm oil is trading down 0.6%.