DTN Early Word Grains 04/23 05:54
Spring Rains Bring Green Grains
July corn was 2 cents higher, July soybeans were 2 cents higher, and July
Kansas City (HRW) wheat was 5 cents higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: July corn was 2 cents higher, July soybeans were 2
cents higher, and July Kansas City (HRW) wheat was 5 cents higher.
CME Globex Recap: The grain and oilseed complex was mostly higher overnight
with the only markets showing losses early Monday morning being Minneapolis
spring wheat, rough rice, canola, and Malaysian palm oil. This, considering the
U.S. dollar index was posting a solid rally, could be an impressive move to
start the week. Other sectors struggled with both energies and metals lower
(except natural gas). DJIA futures were also under pressure.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 201.95 points (0.8%)
lower at 24,462.94, the NASDAQ Composite lost 91.93 points (1.3%) to 7,146.13,
and the S&P 500 fell 22.99 points (0.9%) to 2,670.14 Friday. DJIA futures were
51 points lower early Monday morning. Asian markets closed mostly lower with
Japan's Nikkei 225 down 74.20 points (0.3%), Hong Kong's Hang Seng losing
163.93 points (0.5%), and China's Shanghai Composite off 3.53 points (0.1%).
European markets were trading mostly lower with London's FTSE 100 off 0.05
point, Germany's DAX losing 27.09 points (0.2%), and France's CAC 40 down 7.84
points (0.1%). The euro was 0.0055 lower at 1.2233 while the U.S. dollar index
gained 0.44 to 90.70. June 30-year T-Bonds were 21/32 lower at 142'14 while
June gold lost $8.50 to $1,329.80. Crude oil was $0.39 lower at $68.01 as Brent
crude lost $0.26 to $73.80. China's Dalian soybean and Malaysian palm oil
futures were both lower overnight.
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