DTN Early Word Grains 05/06 05:50
Oils Lead Grains Higher Early Thursday
July corn is up 4 3/4 cents, July soybeans are up 17 1/2 cents and July KC
wheat is down 1 1/4 cents.
DTN Lead Analyst
Pre-6 a.m. CDT prices, CME Globex: July corn is up 4 3/4 cents, July
soybeans are up 17 1/2 cents and July KC wheat is down 1 1/4 cents.
CME Globex Recap:
Early Thursday, Dow Jones futures are starting a little higher with no
strong direction from either Europe or Thursday's return of Asian stocks.
Wednesday's G7 meeting expressed concern about human rights abuses in China and
voiced support for Taiwan. Corporate earnings reports continue to show
better-than-expected results and support the view of an improving economy.
Previous closes Wednesday 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 Thursday, June Dow Jones futures are up 55 points.
Asian markets are mixed with Japan's Nikkei 225 index up 1.80% and China's
Shanghai Composite Index down 0.16%. European markets are mixed with the spot
futures of the London FTSE 100 trading up 0.02%, spot futures of Germany's DAX
trading down 0.03% and spot futures of France's CAC Index trading down 0.10%.
The June euro is up $0.0044 at $1.2053. The June U.S. Dollar Index is down 0.24
at 91.06. The June 30-year T-bond is up 9/32nds, while June gold is up $8.50 at
$1,792.80 and June crude oil is down $0.35 at $65.28. On China's Dalian
exchange, September corn was up 0.9%, July soybeans were up 2.5%, September
soybean meal was up 2.3% and September soybean oil was up 4.3%. July common
wheat on China's Zhengzhou exchange was unchanged. June Malaysian palm oil is
trading up 3.6%.
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