DTN Grain Open: Lower With Risk-Off Futures Board

Pre-6 a.m. Globex Prices: July corn is down 14 3/4 cents, July soybeans are down 19 1/2 cents and July KC wheat is down 11 1/2 cents.

CME Globex Recap: Early Thursday, Dow Jones futures are trading lower, in line with lower stock prices overseas. U.S. stocks took it on the chin Wednesday after the Labor Department reported consumer prices up 0.8% in April and up 4.2% from last year’s pandemic-afflicted prices.

June crude oil is trading lower after DTN reported Colonial Pipeline restarted operations late Wednesday afternoon. Meanwhile, fighting continues between Palestinians and Israelis in Gaza.

OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 681.50 at 33,587.66 and the S&P 500 down 89.06 at 4,063.04 while the 10-Year Treasury yield jumped up to 1.69%. Early Thursday, June Dow Jones futures are trading up 8x points.

Asian markets are lower with Japan’s Nikkei 225 index down 2.49% and China’s Shanghai Composite Index down 0.96%. European markets are lower with the spot futures of the London FTSE 100 trading down 2.14%, spot futures of Germany’s DAX trading down 1.83% and spot futures of France’s CAC Index trading down 1.62%.

The June euro is down $0.0016 at $1.2072. The June U.S. Dollar Index is up 0.14 at 90.83. The June 30-year T-bond is down 1/32nd, while June gold is down $9.30 at $1,813.50 and June crude oil is down $1.68 at $64.40.

On China’s Dalian exchange, September corn was down 1.2%, July soybeans were down 0.4%, September soybean meal was down 1.4% and September soybean oil was up 1.3%. July common wheat on China’s Zhengzhou exchange was unchanged. Malaysian palm oil is closed on holiday Thursday.

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