Pre-6 a.m. Globex Prices: December corn is down 4 3/4 cents, November soybeans are down 17 1/4 cents and July KC wheat is up 4 1/2 cents.
CME Globex Recap: Early Tuesday, Dow Jones futures are a little lower as Federal Reserve Chairman Jerome Powell goes before Congress on Tuesday to talk about his views on inflation and the Fed’s accommodative monetary policy. Other commodities are mixed with July crude oil trading modestly lower.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average up 586.89 at 33,876.97 and the S&P 500 up 58.34 at 4,224.79 as the 10-Year Treasury yield inched up to 1.48%. Early Tuesday, September Dow Jones futures are trading down 20 points.
Asian markets are higher with Japan’s Nikkei 225 index up 3.1% and China’s Shanghai Composite Index up 0.8%. European markets are mixed with the spot futures of the London FTSE 100 trading up 0.26%, spot futures of Germany’s DAX trading down 0.11% and spot futures of France’s CAC Index trading up 0.01%.
The September euro is down $0.0015 at $1.1915. The September U.S. Dollar Index is up 0.16 at 92.05. The September 30-year T-bond is down 6/32nds, while August gold is down $3.10 at $1,779.80 and July crude oil is down $0.57 at $73.09.
On China’s Dalian exchange, September corn was down 0.2%, July soybeans were up 1.0%, September soybean meal was up 0.1% and September soybean oil was up 1.7%. July common wheat on China’s Zhengzhou exchange was up 1.4%. September Malaysian palm oil is trading up 1.4%.