DTN Early Word Grains 04/18 06:02
Grains Mixed Ahead of Export Sales, Better Planting Weather
May corn is up 1/4 cent per bushel, May soybeans are up 1 1/2 cents, and
July K.C. wheat is down 2 1/2 cents.
By Tregg Cronin
DTN Contributing Analyst
6:00 a.m. CME Globex: May corn is up 1/4 cent per bushel, May soybeans are up
1 1/2 cents, and July K.C. wheat is down 2 1/2 cents.
CME Globex Recap: Global equity markets are mostly lower Thursday morning
with the most focus likely to be on the release of the Mueller Report due later
today. Markets are braced for volatility but like most of the investigation,
unlikely to be anything to truly roil markets. Grains are mixed to firmer this
morning with contracts still in recent ranges. Social media continues to slowly
fill up with planting pictures with widespread progress probably another week
away. So far, planting delays are not providing bulls the edge they need, and
funds continue to add to their record net short position. Winter wheat
contracts continue to stare at contract lows with mainly beneficial weather and
competitive export offers out of the Black Sea and Europe this summer.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial
Average down 3.12 at 26,449.54 and the S&P 500 down 6.61 at 2,907.06 while the
10-Year Treasury yield ended at 2.592%. Early Thursday, the June DJIA futures
are down 39 points. Asian markets are lower with Japan's Nikkei 225 down 187.85
(-0.84%) and China's Shanghai Composite down 12.92 points (-0.4%). European
markets are mixed with London's FTSE 100 down 12.46 points (-0.17%), Germany's
DAX up 59.4 points (0.49%) and France's CAC 40 up 10.54 points (0.19%). The
June Euro is down 0.005 at 1.130 and the June U.S. dollar index is up 0.312 at
96.970. The June 30-Year T-Bond is up 12/32nds, while June gold is up $0.10 at
$1,276.90 and May crude oil is down $0.04 at $63.72. Soybeans on China's Dalian
Exchange were down -0.51% while soybean meal was down -0.55%.
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