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DTN Early Word Grains 06/12 05:50
Wheat Firms, Led by Minneapolis, Other Grain and Soy Markets Mostly Mixed on
Report Day
July corn is up 3/4 cent per bushel, July soybeans are down 4 cents, July KC
wheat is up 2 1/2 cents, July Chicago wheat is up 1 1/4 cents and July
Minneapolis wheat is up 8 cents.
Dana Mantini
Senior Market Analyst
EARLY MORNING GLOBEX NET CHANGES: July corn is up 3/4 cent per bushel, July
soybeans are down 4 cents, July KC wheat is up 2 1/2 cents, July Chicago wheat
is up 1 1/4 cents and July Minneapolis wheat is up 8 cents.
CME GLOBEX RECAP: As traders await the usually inconsequential June WASDE
report to be released at 11 a.m. CDT, grain and soy markets are mixed in quiet
early trade. The WASDE report is expected to show a modest increase in corn
exports and drop in the ending stocks total, and wheat production is expected
to increase modestly. However, beyond that, some changes are possible in South
American crop estimates and foreign wheat production, but the changes are
likely to be minor. Outside financial markets are a bit weaker on equities and
energy after Wednesday's CPI showed inflation milder than the trade estimate at
2.4%. An apparent agreement with China on trade was revealed, but grain
specifics have not yet been determined. Overnight, China's Dalian Exchange had
corn futures lower, soy futures higher.
OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average down 1.10 at 42,865.77 and the S&P 500 down 16.57 at 6,022.24. The
10-Year Treasury yield ended at 4.412%. Early Thursday, the June Dow Jones
Futures are down 290 points. European markets are lower with the spot futures
of London's FTSE 100 trading down 0.29%, spot futures of Germany's DAX is
trading down 1.35% and the spot futures of France's CAC 40 Index down 0.85%.
Asian markets are mixed with Japan's Nikkei 225 Index down 0.65% and China's
Shanghai Composite Index up 0.01%.
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