DTN Early Word Grains 03/23 05:35
Corn, Wheat Prices Higher Early Thursday With Export Sales Ahead
May corn is up 3 cents, May soybeans are down 2 cents and May KC wheat is up
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: May corn is up 3 cents, May soybeans are
down 2 cents and May KC wheat is up 10 cents.
CME GLOBEX RECAP: Early Thursday, U.S. stock futures are trading a little
higher, taking part of Wednesday's loss, one day after the Fed raised the upper
limit on the federal funds target by a quarter-percent to 5.00%. Later
Wednesday, Federal Reserve Chairman Jerome Powell added to bearish concerns
when he said he expected another rate hike in May. USDA's export sales report
will be out at 7:30 a.m. CDT Thursday, the same time as weekly U.S. jobless
claims and an update of the U.S. Drought Monitor. February U.S. new home sales
are set for 9 a.m., followed by weekly U.S. natural gas storage at 9:30 a.m.
and USDA's monthly cold storage report at 2 p.m.
OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average down 530.49 at 32,030.11 and the S&P 500 Index down 65.90 at 3,936.97.
The 10-Year Treasury yield ended at 3.50%. Early Thursday, June Dow Jones
futures are up 27 points. European markets are slightly lower with the spot
futures of the London FTSE 100 trading down 0.41%, spot futures of Germany's
DAX trading down 0.27% and spot futures of France's CAC Index trading down
0.08%. Asian markets are mixed with Japan's Nikkei 225 index down 0.17% and
China's Shanghai Composite Index up 0.64%.
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