Pre-6 a.m. Globex Prices: July corn is up 10 1/2 cents, July soybeans are up 13 cents and July KC wheat is up 9 cents.
CME Globex Recap: Early Tuesday, Dow Jones futures are trading higher, in line with higher stocks overseas. Investors continue to waffle between recognizing an economic rebound, accompanied by improving coronavirus statistics on one hand and being concerned about inflation and the possibility of higher interest rates on the other. A report on April U.S. housing starts is due out at 7:30 a.m. CDT.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average down 54.34 at 34,327.79 and the S&P 500 down 10.56 at 4,163.29 while the 10-Year Treasury yield ended at 1.64%. Early Monday, June Dow Jones futures are trading up 93 points.
Asian markets are higher with Japan’s Nikkei 225 index up 2.09% and China’s Shanghai Composite Index up 0.32%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.29%, spot futures of Germany’s DAX trading up 0.34% and spot futures of France’s CAC Index trading up 0.37%.
The June euro is up $0.0059 at $1.2225. The June U.S. Dollar Index is down 0.39 at 89.76. The June 30-year T-bond is down 7/32nds, while June gold is up $2.20 at $1,869.80 and June crude oil is up $0.52 at $66.79.
On China’s Dalian exchange, September corn was down 0.4%, July soybeans were up 0.1%, September soybean meal was up 0.6% and September soybean oil was up 0.1%. July common wheat on China’s Zhengzhou exchange was unchanged. July Malaysian palm oil is trading up 4.1%.