DTN Early Word Grains 06/07 06:50
Grain Markets Mixed With Old Crop Prices Mostly Higher, New Crop Pices
July corn is up 2 1/4 cents per bushel, July soybeans are up 7 cents, July
KC wheat is down 2 cents, July Chicago wheat is up 1 3/4 cents and July
Minneapolis wheat is up 1/2 cent.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: July corn is up 2 1/4 cents per bushel,
July soybeans are up 7 cents, July KC wheat is down 2 cents, July Chicago wheat
is up 1 3/4 cents and July Minneapolis wheat is up 1/2 cent.
CME GLOBEX RECAP: Equity markets are slightly lower in the U.S. Wednesday
morning after recovering from a lower start on Tuesday to post small gains. The
S&P 500 made a new high for 2023. New U.S. economic data this week is light,
but we have gotten factory orders and the services PMI, both of which implied a
slowing economy. Equity traders like seeing data that shows a slower economy as
it raises the odds that the Fed might pause their interest rate hikes.
Wednesday morning, we will see reports on the U.S. trade deficit and the level
of consumer credit. Members of the Fed are no longer making public comments
ahead of their meeting which will take place next week.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average up 10.42 at 33,573.28 and the S&P 500 up 10.06 at 4,283.85, The 10-Year
Treasury yield ended at 3.70%. Early Wednesday, the June Dow Jones Futures are
down 32 points. European markets are mixed with the spot futures of London's
FTSE 100 trading up 0.01%, spot futures of Germany's DAX is trading down 0.3%
and the spot futures of France's CAC 40 Index down 0.3%. Asian markets are
mixed with Japan's Nikkei 225 Index down 1.82% and China's Shanghai Composite
Index up 0.08%.
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