DTN Early Word Grains 05/26 06:56
Wheat, Corn Prices Lower Again After Russia Offers Safe Passage
July corn was down 12 1/4 cents, July soybeans were down 2 cents and July KC
wheat was down 25 cents.
DTN Lead Analyst
Pre-6 a.m. Globex Prices: July corn was down 12 1/4 cents, July soybeans
were down 2 cents and July KC wheat was down 25 cents.
CME GLOBEX RECAP: Early Thursday, U.S. stocks on the Dow Jones Industrials
are trading a little higher, similar to roughly steady trading in Europe. The
U.S. Commerce Department will have updates of first-quarter U.S. GDP at 7:30
a.m. CDT, the same time weekly U.S. jobless claims and USDA's weekly export
sales are released. Wednesday's minutes from the latest Fed meeting show more
half-percent increases in the federal funds rate target are likely in June and
July and that is keep investors cautious, reported the Wall Street Journal.
OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average up 191.66 at 31,120.28 and the S&P 500 up 37.25 at 3,978.73 as the
10-Year Treasury yield ended at 2.75%, down from the highest level in three and
a half years. Early Thursday, June Dow Jones futures are trading up 62 points.
Asian markets are mixed with Japan's Nikkei 225 index down 0.27% and China's
Shanghai Composite Index up 0.50%. European markets are mixed with the spot
futures of the London FTSE 100 trading down 0.17%, spot futures of Germany's
DAX trading up 0.24% and spot futures of France's CAC Index trading up 0.48%.
The June euro is down $0.0007 at $1.0690. The June U.S. Dollar Index is up 0.02
at 102.10. The June 30-year T-bond is up 11/32nds, while June gold is down
$4.10 at $1,842.20 and July crude oil is up $0.74 at $111.07. On China's Dalian
exchange, September corn was down 0.4%, July soybeans were down 0.4%, September
soybean meal was down 0.4% and September soybean oil was down 0.2%. June
Malaysian palm oil is trading up 2.3%.
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