DTN Early Word Grains 05/12 05:55
Soybeans Press Higher, Unfazed by Report Day
July corn is up 1 1/2 cents, July soybeans are up 27 cents and July KC wheat
is down 1 1/4 cents.
DTN Lead Analyst
Pre-6 a.m. Globex Prices: July corn is up 1 1/2 cents, July soybeans are up
27 cents and July KC wheat is down 1 1/4 cents.
CME Globex Recap: Early Wednesday, Dow Jones futures are trading lower
after two days of lower closes. June crude oil is slightly higher, while the
nation's largest fuel pipeline remains closed due to a cyberattack. Traders
will be watching the Labor Department's report on consumer prices, due out at
7:30 a.m. CDT Wednesday. Fighting between Palestinians and Israelis has
escalated once again with sides launching rockets and air strikes.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average down 473.66 at 34,269.16 and the S&P 500 down 36.33 at 4,152.10 while
the 10-Year Treasury yield ended at 1.62%. Early Wednesday, June Dow Jones
futures are trading down 80 points. Asian markets are mixed with Japan's Nikkei
225 index down 1.61% and China's Shanghai Composite Index up 0.61%. European
markets are steady to higher with the spot futures of the London FTSE 100
trading up 0.76%, spot futures of Germany's DAX trading up 0.35% and spot
futures of France's CAC Index trading up 0.06%. The June euro is down $0.0024
at $1.2137. The June U.S. Dollar Index is up 0.14 at 90.26. The June 30-year
T-bond is up 8/32nds, while June gold is down $2.50 at $1,833.60 and June crude
oil is up $0.46 at $65.74. On China's Dalian exchange, September corn was up
1.1%, July soybeans were up 2.9%, September soybean meal was up 2.3% and
September soybean oil was up 2.5%. July common wheat on China's Zhengzhou
exchange was up 0.3%. June Malaysian palm oil is trading up 3.1%.
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