DTN Early Word Grains 03/25 06:07
Grains Mixed in Ramp Up to Key USDA Reports
May corn is up 3/4 cents per bushel, May soybeans are up 3 1/2 cents, and
May K.C. wheat is down 1/2 cents.
By Tregg Cronin
DTN Contributing Analyst
6:00 a.m. CME Globex: May corn is up 3/4 cents per bushel, May soybeans are
up 3 1/2 cents, and May K.C. wheat is down 1/2 cents.
CME Globex Recap: Asian equities picked up where the U.S. and Europe left off
last week, closing sharply lower as global growth fears are alive and well.
Investors in the U.S. were unnerved last week when the yield on three-month
Treasury notes surpassed the yield on the 10-year note for the first time since
2007. The three-month and 10-year yields inverting has also preceded nearly
every recession in history, according to financial media. Trade talks and
weather remain the drivers in ag markets with an eye toward the
end-of-the-month reports this Friday. Traders are hopeful some clarity might
finally be achieved on trade by the time the calendar flips to April, with the
next two weeks crucial for moving the ball into the end zone.
OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average down 460.19 at 25,502.32 and the S&P 500 down 54.17 at 2,854.88 while
the 10-Year Treasury yield ended at 2.455%. Early Monday, the June Dow Jones
Industrial Average futures are down 37 points. Asian markets are lower with
Japan's Nikkei 225 down 650.23 (3.01%) and China's Shanghai Composite up 61.12
points (1.97%). European markets are lower with London's FTSE 100 down 35.61
points (0.49%), Germany's DAX down 15.43 points (0.14%) and France's CAC 40
down 22.81 points (0.43%). The June euro is up 0.003 at 1.140 and the June U.S.
dollar index is down 0.116 at 96.035. The June 30-Year T-Bond is down 8/32nds,
while April gold is up $5.10 at $1,317.40 and May crude oil is down $0.02 at
$59.02. Soybeans on China's Dalian Exchange were down 0.39% while soybean meal
was up 0.27%.
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