DTN Early Word Grains 06/06 06:18
Grain Markets Higher on Crop Condition Ratings, Lower Australian Winter
July corn is up 11 1/2 cents per bushel, July soybeans are up 9 3/4 cents,
July KC wheat is up 23 1/2 cents, July Chicago wheat is up 23 cents and July
Minneapolis wheat is up 16 3/4 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: July corn is up 11 1/2 cents per bushel,
July soybeans are up 9 3/4 cents, July KC wheat is up 23 1/2 cents, July
Chicago wheat is up 23 cents and July Minneapolis wheat is up 16 3/4 cents.
CME GLOBEX RECAP: Equity markets are lower in the U.S. Tuesday morning, but
world markets are mixed. The highlight Monday was Apple's new offering of a
virtual reality device, priced at $3,500. The broader market was lower, as
worries about future earnings reports and uncertainty about next week's Federal
reserve meeting have resulted in profit taking after the broad market moved to
new highs on Friday. There still is a 25% chance of a 1/4-point rate increase,
and that has traders worried. Energy prices are giving back most of Monday's
gains on worries about recession, demand, and concern whether Saudi Arabia will
really cut production by a million barrels per day in July.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial
Average down 199.90 at 33,562.86 and the S&P 500 down 8.58 at 4,273.79, The
10-Year Treasury yield ended at 3.69%. Early Tuesday, the June Dow Jones
Futures are down 27 points. European markets are lower with the spot futures of
London's FTSE 100 trading down 0.26%, spot futures of Germany's DAX is trading
down 0.13% and the spot futures of France's CAC 40 Index down 0.23%. Asian
markets are mixed with Japan's Nikkei 225 Index up 0.9% and China's Shanghai
Composite Index down 1.15%.
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