DTN Grain Open: Lower as Traders Hesitate

Young corn rows. ©Debra L Ferguson

Pre-6 a.m. Globex Prices: July corn is down 9 1/2 cents, July soybeans are down 15 cents and July KC wheat is down 8 cents.

CME Globex Recap: Early Wednesday, Dow Jones futures are a little lower, similar to European markets with U.S. consumer prices expecting attention Thursday morning. In overnight news, China’s National Bureau of Statistics reported consumer prices up 1.3% in May from a year ago.

Producer prices were up 9.0% over the same period, higher than was expected, reported RTTNews.com. CNBC.com reported the U.S. Senate passed a $250 billion tech and manufacturing bill with bipartisan support, designed to help the U.S. compete with China.

OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 30.42 at 34,599.82 and the S&P 500 up 0.74 at 4,227.26 as the 10-Year Treasury yield dropped to 1.53%. Early Monday, June Dow Jones futures are trading down 29 points.

Asian markets are mixed with Japan’s Nikkei 225 index down 0.35% and China’s Shanghai Composite Index up 0.32%. European markets are mostly lower with the spot futures of the London FTSE 100 trading down 0.70%, spot futures of Germany’s DAX trading down 0.38% and spot futures of France’s CAC Index trading down 0.08%.

The June euro is up $0.0008 at $1.2189. The June U.S. Dollar Index is down 0.06 at 90.02. The June 30-year T-bond is up 9/32nds, while August gold is down $4.40 at $1,890.0 and July crude oil is up $0.16 at $70.21.

On China’s Dalian exchange, September corn was up 0.1%, July soybeans were down 0.3%, September soybean meal was up 0.4% and September soybean oil was down 1.0%. July common wheat on China’s Zhengzhou exchange was down 3.1%. August Malaysian palm oil is trading down 4.1%.

The Latest

Send press releases to Ernst@Agfax.com.

View All Events

Send press releases to Ernst@Agfax.com.

View All Events