DTN Early Word Grains 07/01 05:55
Grains Mixed Ahead of Three-Day Weekend
December corn is up 2 3/4 cents per bushel, November soybeans are down 9 1/2
cents, and September KC wheat is up 3 3/4 cents.
DTN Contributing Analyst
PRE-6 a.m. GLOBEX PRICES: December corn is up 2 3/4 cents per bushel,
November soybeans are down 9 1/2 cents, and September KC wheat is up 3 3/4
CME GLOBEX RECAP: The month of July doesn't look to be any different for
global equity markets than June with most major indices off to a weak start.
The first half of 2022 was the worst start to a year in the United States since
1970 which has soured sentiment across asset classes of all shapes and sizes.
Energy markets are beginning July on a firmer note, although downtrends are
mostly still in place with. The U.S. Dollar Index is firmer overnight with
long-term trends still up but below the multi-decade highs notched in mid-June.
Metals are sharply lower overnight with copper and silver both off more than
3.0%. Grain markets are a mixed bag overnight with the soy complex lower while
corn and wheat post small gains. Bulls are hopeful a new month and quarter will
bring speculative inflows into the space although that sentiment doesn't seem
to be shared by any other financial instrument so far.
OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial
Average down 253.88 at 30,775.43 and the S&P 500 down 33.45 at 3,818.83 while
the 10-Year Treasury yield ended at 2.972%. Early Friday, the September DJIA
futures are down 80 points. Asian markets are lower with Japan's Nikkei 225
down 457.42 (-1.73%) and China's Shanghai Composite down 10.98 points (-0.32%).
European markets are higher with London's FTSE 100 up 33.83 points (0.47%),
Germany's DAX up 68.49 points (0.51%) and France's CAC 40 up 31.35 points
(0.53%). The September Euro is down 0.002 at 1.050 and the September U.S.
Dollar Index is up 0.331 at 104.795. The September 30-Year T-Bond is down
6/32nds, while August gold is down $14.50 at $1,792.80 and August crude oil is
up $1.77 at $107.53. Corn on China's Dalian Exchange was down 1.9% while
soybeans were down 2.02% and soybean meal was down 0.38%.
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