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DTN Early Word Grains 07/09 05:51
Crop Prices Attempting Recovery Early Wednesday Following Two-Day Tumble
September corn is up 1 1/4 cents and August soybeans are down 1/2 cents.
December corn is up 1/2 cent and November soybeans are up 1/4 cent. September
KC wheat is unchanged, September Chicago wheat is up 1 1/4 cents, and September
MIAX Minneapolis wheat is up 1 1/4 cents.
Rhett Montgomery
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: September corn is up 1 1/4 cents and
August soybeans are down 1/2 cents. December corn is up 1/2 cent and November
soybeans are up 1/4 cent. September KC wheat is unchanged, September Chicago
wheat is up 1 1/4 cents, and September MIAX Minneapolis wheat is up 1 1/4 cents.
CME GLOBEX RECAP: Agricultural futures are moderately higher for the most
part heading into Wednesday morning as we may begin to see some profit taking
and position squaring by traders ahead of Friday's USDA release. In outside
markets, the tone is quiet as the tariff clock partially resets again to August
1, with President Trump asserting on Tuesday that there will be no further
extension granted. Meanwhile, energy markets are slightly higher early
Wednesday as NYMEX crude oil has quietly posted seven positive sessions out of
the past nine since the drop following the Iran-Israel ceasefire. Reports on
Wednesday to watch for include the Energy Information Administration's (EIA)
Petroleum Status report at 9:30 a.m. CDT.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average down 165.60 at 44,240.76 and the S&P 500 Index down 4.46 at 6,225.52.
The 10-Year Treasury yield ended at 4.42%. Early Wednesday, September Dow Jones
futures are up 70 points. European markets are higher with the spot futures of
the London FTSE 100 trading up 0.36%, spot futures of Germany's DAX trading up
1.02% and spot futures of France's CAC Index trading up 0.55%. Asian markets
are mixed with Japan's Nikkei 225 index up 0.33% and China's Shanghai Composite
Index down 0.13%.
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