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DTN Early Word Grains 07/02 05:49
Futures Mixed Early Wednesday as Old Crop Corn Threatens $4.00 Break
September corn is down 1 3/4 cents and August soybeans are up 5 3/4 cents.
September KC wheat is up 3/4 cents, September Chicago wheat is up 1/2 cents,
and September MIAX Minneapolis wheat is unchanged.
Rhett Montgomery
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: September corn is down 1 3/4 cents and
August soybeans are up 5 3/4 cents. September KC wheat is up 3/4 cents,
September Chicago wheat is up 1/2 cents, and September MIAX Minneapolis wheat
is unchanged.
CME GLOBEX RECAP: Soybean futures are higher, wheat mixed, and corn futures
lower yet again ahead of the penultimate trading session of the week. With
grain related news wires quiet following the USDA reports to open the week,
traders are focused on good crop condition scores and more rain scheduled for
the U.S. Grain Belt which looks to move west to east over the next 15 days
giving most states a chance at coverage. In outside markets, investors will
continue to monitor the progress of the 2025 Budget Bill as it moves back to
the House of Representative for another vote on Senate revisions. Also worth
monitoring is the approaching July 9 deadline for the 90-day tariff pause, of
which there has been growing uncertainty whether some countries would be
granted extensions or not.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average up 400.17 at 44,494.94 and the S&P 500 Index down 6.94 at 6,198.01. The
10-Year Treasury yield ended at 4.25%. Early Wednesday, September Dow Jones
futures are up 83 points. European markets are higher with the spot futures of
the London FTSE 100 trading up 0.19%, spot futures of Germany's DAX trading up
0.24% and spot futures of France's CAC Index trading up 0.01%. Asian markets
are lower with Japan's Nikkei 225 index down 0.56% and China's Shanghai
Composite Index down 0.09%.
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