DTN Early Word Grains 05/26 06:36
Grain Markets Higher on Weather Concerns, Renewed Worries on Ukrainian
July corn is up 3 1/4 cents per bushel, July soybeans are up 12 cents, July
KC wheat is up 14 3/4 cents, July Chicago wheat is up 7 3/4 cents and July
Minneapolis wheat is up 14 1/4 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: July corn is up 3 1/4 cents per bushel,
July soybeans are up 12 cents, July KC wheat is up 14 3/4 cents, July Chicago
wheat is up 7 3/4 cents and July Minneapolis wheat is up 14 1/4 cents.
CME GLOBEX RECAP: There are multiple media reports that an agreement between
the President and House Speaker McCarthy to raise the debt ceiling and limit
spending for two years is close. Equity markets on Thursday seemed to be
comfortable that an agreement would be reached, although the broader market as
measured by the S&P 500 has been outperforming the 30 stocks in the Dow Jones
Industrial Average. The tech-heavy Nasdaq was the leader Thursday, with strong
results in the chip sector lifting markets. Prices this morning are mixed, and
the market still seems to be cautious about both the debt ceiling negotiations,
and future Fed actions given this week's mostly hawkish comments from regional
OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average down 35.27 at 32,764.65 and the S&P 500 up 36.04 at 4,151.28. The
10-Year Treasury yield ended at 3.81%. Early Friday, the June Dow Jones Futures
are down 30 points. European markets are lower with the spot futures of
London's FTSE 100 trading down 0.2%, spot futures of Germany's DAX is trading
down 0.42% and the spot futures of France's CAC 40 Index down 0.15%. Asian
markets are higher with Japan's Nikkei 225 Index up 0.37% and China's Shanghai
Composite Index up 0.35%.
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