DTN Early Word Grains 05/17 05:53
Corn, Wheat on Track For Higher Friday Finishes
July corn is up 4 3/4 cents, July soybeans are down 2 1/4 cents and July KC
wheat is up 5 cents.
By Todd Hultman
DTN Lead Analyst
6:00 a.m. CME Globex: July corn is up 4 3/4 cents, July soybeans are down 2
1/4 cents and July KC wheat is up 5 cents.
CME Globex Recap: Dow Jones futures are starting lower early Friday, in line
with lower European markets. The June U.S. dollar index is up 0.07, but staying
quiet near its highest prices in two years, while most other commodities are
mixed. Corn is on track to complete a bullish outside weekly reversal Friday,
facing serious planting challenges in May.
OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial
Average up 214.66 at 25,862.68 and the S&P 500 up 25.36 at 2,876.32, while the
10-yr Treasury yield ended at 2.40%. Early Friday, DJIA futures are down 107
points. Asian markets are mixed with Japan's Nikkei 225 up 187.11 (0.9%) and
China's Shanghai Composite down 73.41 points (-2.5%). European markets are
lower with London's FTSE 100 down 35.55 points (-0.5%), Germany's DAX down
96.03 points (-0.8%), and France's CAC 40 down 31.79 points (-0.6%). The June
Euro is down 0.001 at $1.119 and the June U.S. dollar index is up 0.07 at
97.75. The June 30-Year T-Bond is up 9/32nds, while June gold is down $0.80 at
$1,285.40 and June crude oil is up $0.51 at $63.38. Soybeans on China's Dalian
Exchange were showing a small loss, while meal had a slight gain.
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