DTN Early Word Grains 05/23 05:57
Grains Lower, Rain Not Going Away
July corn was down 2 3/4 cents, July soybeans were down 5 1/2 cents, and
July Chicago wheat was down 3 cents.
By Todd Hultman
6:00 a.m. CME Globex: July corn was down 2 3/4 cents, July soybeans were down
5 1/2 cents, and July Chicago wheat was down 3 cents.
CME Globex Recap: Tuesday was supposed to be a drier day across the Corn
Belt, but morning showers are already falling in Missouri and Illinois under a
crescent moon with more coming in the seven-day forecast. Grains are starting
lower Tuesday after USDA showed no planting problems on paper.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed up 89.99 points at
20,894.83. The NASDAQ Composite was up 49.92 points at 6,133.62 and the S&P 500
was up 12.29 points at 2,394.02 Monday. DJIA futures were up 31 points early
Tuesday morning. Asian markets were mostly lower with Japan's Nikkei down 65.00
points (-0.33%), Hong Kong's Hang Seng up 11.81 points (0.05%), and China's
Shanghai Composite down 13.73 points (-0.45%). European markets were a little
higher Tuesday with London's FTSE 100 up 8.24 points (0.1%), Germany's DAX up
34.98 points (0.3%), and France's CAC 40 up 32.53 points (0.6%). The U.S.
dollar index was down 0.16 at 96.73 while the June euro was up 0.00220 at
1.12730. June 30-year T-Bonds were up 7/32nds at 154'00 while June gold was
down $0.60 at $1,280.80. July crude oil was down 0.49 at $50.64 while July
Brent crude was down $0.57 at $53.30. Soybeans at the Dalian Exchange were
steady to higher overnight and Malaysian palm oil futures are down 1.7%.
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