DTN Grain Open: Markets Rally Ahead of 3-Day Weekend

    ©Debra L Ferguson Stock Photography

    Pre-6 a.m. Globex Prices: May corn is up 3 1/2 cents per bushel, May soybeans are up 13 1/4 cents, and July KC wheat is up 5 1/4 cents.

    CME Globex Recap: Grain markets are firmer overnight with the exception of soybean oil as inflows to the ag space continue. There are no agricultural markets Friday due to the Good Friday holiday.

    Mixed equity markets overnight with U.S. futures flat ahead of the U.S. open later Thursday morning. Additional Wall Street bank earnings are expected Thursday, which analysts think will follow J.P. Morgan’s lead in dropping swiftly from 2021.

    Other data points Thursday will include March retail sales and the University of Michigan’s consumer sentiment index. Energy markets are weaker overnight, setting back from this week’s gains. The U.S. Dollar Index is slightly lower overnight, reversing from the two-year high set Wednesday. Metals are mixed with copper higher and precious metals lower.

    OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 344.23 at 34,564.59 and the S&P 500 up 49.14 at 4,397.45 while the 10-Year Treasury yield ended at 2.687%. Early Thursday, the June DJIA futures are down 8 points.

    Asian markets are higher with Japan’s Nikkei 225 up 328.51 (1.22%) and China’s Shanghai Composite up 38.82 points (1.22%). European markets are mostly higher with London’s FTSE 100 down 20.82 points (-0.27%), Germany’s DAX up 22.51 points (0.16%) and France’s CAC 40 up 19.51 points (0.3%).

    The June Euro is up 0.003 at 1.090 and the June U.S. Dollar Index is down 0.283 at 99.630. The June 30-Year T-Bond is down 1/32nds, while June gold is down $12.80 at $1,971.90 and May crude oil is down $0.51 at $103.74.

    Corn on China’s Dalian Exchange was up 0.62% while soybeans were up 0.67% and soybean meal was up 0.3%.

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