Pre-6 a.m. Globex Prices: December corn is down 17 cents, November soybeans are down 25 cents and July KC wheat is down 7 1/2 cents.
CME Globex Recap: Early Monday, Dow Jones futures are trading higher, recovering part of Friday’s losses with ongoing concerns about inflation and the Federal Reserve’s anticipation of higher interest rates in 2023. Most commodities are starting lower, but July crude oil is trading modestly higher.
OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 533.37 at 33,290.08 and the S&P 500 down 55.41 at 4,166.45 as the 10-Year Treasury yield ended at 1.45%. Early Monday, June Dow Jones futures are trading up 194 points.
Asian markets are mixed with Japan’s Nikkei 225 index down 3.3% and China’s Shanghai Composite Index up 0.1%. European markets are slightly higher with the spot futures of the London FTSE 100 trading up 0.12%, spot futures of Germany’s DAX trading up 0.37% and spot futures of France’s CAC Index trading up 0.14%.
The September euro is up $0.0020 at $1.1912. The September U.S. Dollar Index is down 0.11 at 92.10. The September 30-year T-bond is up 14/32nds, while August gold is up $14.60 at $1,783.60 and July crude oil is up $0.26 at $71.90.
On China’s Dalian exchange, September corn was down 1.1%, July soybeans were up 1.5%, September soybean meal was up 0.5% and September soybean oil was up 0.6%. July common wheat on China’s Zhengzhou exchange was down 0.0%. August Malaysian palm oil is trading down 1.1%.