DTN Early Word Grains 05/23 05:54
Wheat Leads Grains Higher Early Monday
July corn was up 4 3/4 cents, July soybeans were up 6 3/4 cents and July KC
wheat was up 24 cents.
DTN Lead Analyst
Pre-6 a.m. Globex Prices: July corn was up 4 3/4 cents, July soybeans were
up 6 3/4 cents and July KC wheat was up 24 cents.
CME GLOBEX RECAP: Early Monday, U.S. stocks on the Dow Jones Industrials are
starting the week higher, facing a new list of earnings reports with many
wondering if the market is getting close to support after dropping 15% from its
January high. USDA's weekly report of export inspections is due out at 10 a.m.
CDT, followed by the Crop Progress report at 3 p.m.
OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average up 8.77 at 31,261.90 and the S&P 500 up 0.57 at 3,901.36 as the 10-Year
Treasury yield ended at 2.79%, down from the highest level in three and a half
years. Early Monday, June Dow Jones futures are trading up 182 points. Asian
markets are higher with Japan's Nikkei 225 index up 0.98% and China's Shanghai
Composite Index up 0.01%. European markets are mostly higher with the spot
futures of the London FTSE 100 trading up 0.77%, spot futures of Germany's DAX
trading up 0.62% and spot futures of France's CAC Index trading up 0.12%. The
June euro is up $0.0113 at $1.0668. The June U.S. Dollar Index is down 0.90 at
102.28. The June 30-year T-bond is down 17/32nds, while June gold is up $19.10
at $1,861.20 and July crude oil is up $0.99 at $111.27. On China's Dalian
exchange, September corn was down 0.2%, July soybeans were up 1.2%, September
soybean meal was up 1.0% and September soybean oil was up 1.4%. June Malaysian
palm oil is trading up 2.7%.