DTN Early Word Grains 05/22 05:56
Planting Concerns Persist, Grains Higher
July corn was up 1 3/4 cents, July soybeans were up 3 cents, and July
Chicago wheat was up 3 cents.
By Todd Hultman
6:00 a.m. CME Globex: July corn was up 1 3/4 cents, July soybeans were up 3
cents, and July Chicago wheat was up 3 cents.
CME Globex Recap: Even though the U.S. dollar is modestly higher early
Monday, most commodities, including grains are also starting higher. Drier
weather should help planting progress in the western Corn Belt the next five
days, but light to moderate showers will continue in the eastern Corn Belt.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed up 141.82 points at
20,804.84. The NASDAQ Composite was up 28.57 points at 6,083.70 and the S&P 500
was up 16.01 points at 2,381.73 Friday. DJIA futures were up 10 points early
Monday morning. Asian markets were mostly higher with Japan's Nikkei up 87.52
points (0.45%), Hong Kong's Hang Seng up 216.47 points (0.9%), and China's
Shanghai Composite down 14.96 points (0.5%). European markets were also higher
Monday with London's FTSE 100 up 33.05 points (0.4%), Germany's DAX up 18.48
points (0.15%), and France's CAC 40 up 14.39 points (0.3%). The U.S. dollar
index was down 0.06 at 97.06 while the June euro was up 0.00205 at 1.12410.
June 30-year T-Bonds were up 2/32nds at 153'29 while June gold was up $1.80 at
$1,255.40. July crude oil was up 0.34 at $51.01 while July Brent crude was up
$0.33 at $53.94. Soybeans at the Dalian Exchange were higher overnight and
Malaysian palm oil futures are up 1.4%.
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