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DTN Early Word Grains 06/18 05:47
Corn, Soy Mixed, Wheat Modestly Higher at Mid-Week
July corn is up 3/4 cents and July soybeans are down 1 1/4 cents. July KC
wheat is up 3 cents, July Chicago wheat is up 3 cents, and July MIAX
Minneapolis wheat is unchanged.
Rhett Montgomery
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: July corn is up 3/4 cents and July
soybeans are down 1 1/4 cents. July KC wheat is up 3 cents, July Chicago wheat
is up 3 cents, and July MIAX Minneapolis wheat is unchanged.
CME GLOBEX RECAP: It is a quiet start to Wednesday trade thus far with corn
and soybean markets hovering near unchanged, but winter wheat futures are
adding to Tuesday's gains as traders continue to add weather premium to the
market amid a slow start to the U.S. harvest. In macros for Wednesday, the Fed
will announce its June interest rate decision at 1 p.m. CDT and is expected to
again hold rates steady as the Israel/Iran conflict has injected another layer
of uncertainty to the global economy. Markets will also close for the
Juneteenth Holiday on Thursday, with grain futures reopening Thursday evening
at 7 p.m. CDT.
OUTSIDE MARKETS:
Previous closes Tuesday showed the Dow Jones Industrial Average down 299.29
at 42,215.80 and the S&P 500 Index down 50.39 at 5,982.72. The 10-Year Treasury
yield ended at 4.39%. Early Wednesday, June Dow Jones futures are up 24 points.
European markets are mixed with the spot futures of the London FTSE 100 trading
up 0.14%, spot futures of Germany's DAX trading down 0.21% and spot futures of
France's CAC Index trading down 0.76%. Asian markets are higher with Japan's
Nikkei 225 index up 0.90% and China's Shanghai Composite Index up 0.04%.
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