DTN Early Word Grains 05/05 05:50
Soybeans Push Higher Early Wednesday
July corn is up 1 1/4 cents, July soybeans are up 12 cents and July KC wheat
is up 1 1/4 cents.
DTN Lead Analyst
Pre-6 a.m. CDT prices, CME Globex: July corn is up 1 1/4 cents, July
soybeans are up 12 cents and July KC wheat is up 1 1/4 cents.
CME Globex Recap: Early Wednesday, Dow Jones futures are trading higher with
support from higher stock markets in Europe and mostly favorable earnings
reports. Ironically, the yield on 10-year Treasuries came down a little Tuesday
after U.S. Treasury Secretary Janet Yellen told an economic seminar interest
rates may have to rise a little to keep the economy from overheating, reported
CNBC.com and others. The Wall Street Journal explained Ms. Yellen later
clarified she was not recommending the Fed raise rates at this time.
Previous closes Tuesday showed the Dow Jones Industrial Average up 19.80 at
34,133.03 and the S&P 500 down 28.00 at 4,164.66 while the 10-year Treasury
yield ended at 1.59%. Early Wednesday, June Dow Jones futures are up 105
points. Markets in Japan and China are closed until Thursday this week.
European markets are higher with the spot futures of the London FTSE 100
trading up 1.40%, spot futures of Germany's DAX trading up 1.47% and spot
futures of France's CAC Index trading up 1.24%. The June euro is down $0.0015
at $1.2007. The June U.S. Dollar Index is up 0.08 at 91.35. The June 30-year
T-bond is down 8/32nds, while June gold is up $1.10 at $1,777.10 and June crude
oil is up $0.72 at $66.41. June Malaysian palm oil is trading up 0.2%.