DTN Early Word Grains 05/24 05:51
Wheat Higher as Weather Challenges Persist
July corn was down 1 1/4 cents, July soybeans were up 5 1/2 cents and July
KC wheat was up 9 1/2 cents.
DTN Lead Analyst
Pre-6 a.m. Globex Prices: July corn was down 1 1/4 cents, July soybeans were
up 5 1/2 cents and July KC wheat was up 9 1/2 cents.
CME GLOBEX RECAP: Early Tuesday, U.S. stocks on the Dow Jones Industrials
are trading lower after manufacturing indices for much of Europe, Japan and
Australia showed lower rates of expansion in May. July crude oil is a little
lower, but still expensive while the European Union tries to persuade Hungary
to approve a ban on imports of Russian oil. U.S. new home sales for April will
be released at 9 a.m. CDT.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial
Average up 618.34 at 31,880.24 and the S&P 500 up 72.39 at 3,973.75 as the
10-Year Treasury yield ended at 2.86%, down from the highest level in three and
a half years. Early Tuesday, June Dow Jones futures are trading down 230
points. Asian markets are lower with Japan's Nikkei 225 index down 0.94% and
China's Shanghai Composite Index down 2.41%. European markets are lower with
the spot futures of the London FTSE 100 trading down 0.48%, spot futures of
Germany's DAX trading down 1.03% and spot futures of France's CAC Index trading
down 1.53%. The June euro is up $0.0022 at $1.0724. The June U.S. Dollar Index
is down 0.08 at 102.02. The June 30-year T-bond is up 27/32nds, while June gold
is up $7.70 at $1,855.50 and July crude oil is down $0.39 at $109.90. On
China's Dalian exchange, September corn was down 0.8%, July soybeans were down
1.0%, September soybean meal was down 2.0% and September soybean oil was up
0.2%. June Malaysian palm oil is trading up 2.9%.
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