DTN Early Word Grains 06/23 05:54
Minneapolis Wheat Leads Grains Higher Early Wednesday
December corn is up 2 cents, November soybeans are up 3 1/2 cents and July
KC wheat is up 11 1/2 cents.
DTN Lead Analyst
Pre-6 a.m. Globex Prices: December corn is up 2 cents, November soybeans are
up 3 1/2 cents and July KC wheat is up 11 1/2 cents.
CME Globex Recap: Early Wednesday, Dow Jones futures are starting a little
higher with overseas markets mixed to lower. Federal Reserve Chairman Jerome
Powell explained to Congress Tuesday that inflationary pressures are largely
the result of temporary adjustments related to reopening the economy after the
pandemic and should ease. New home sales for May are due out at 9 a.m. CDT,
followed by the Energy Department's weekly inventory report at 9:30 a.m. Nearly
all commodities are higher early Wednesday.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average up 68.61 at 33,945.58 and the S&P 500 up 21.65 at 4,246.44 as the
10-Year Treasury yield settled at 1.47%. Early Wednesday, September Dow Jones
futures are trading up 49 points. Asian markets are mixed with Japan's Nikkei
225 index down 0.03% and China's Shanghai Composite Index up 0.25%. European
markets are lower with the spot futures of the London FTSE 100 trading down
0.08%, spot futures of Germany's DAX trading down 0.65% and spot futures of
France's CAC Index trading down 0.52%. The September euro is down $0.0001 at
$1.1956. The September U.S. Dollar Index is down 0.01 at 91.73. The September
30-year T-bond is up 1/32nd, while August gold is up $7.10 at $1,784.50 and
August crude oil is up $0.63 at $73.48. On China's Dalian exchange, September
corn was down 0.1%, September soybeans were up 0.4%, September soybean meal was
down 0.2% and September soybean oil was up 1.4%. July common wheat on China's
Zhengzhou exchange was unchanged. September Malaysian palm oil is trading up
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