DTN Early Word Grains 06/22 05:57
Quiet Grain Start on Friday, OPEC Deliberates
July corn was up 1/4 cent, July soybeans were up 4 3/4 cents, and September
Kansas City (HRW) wheat was down 1 3/4 cents.
By Todd Hultman
6:00 a.m. CME Globex: July corn was up 1/4 cent, July soybeans were up 4 3/4
cents, and September Kansas City (HRW) wheat was down 1 3/4 cents.
CME Globex Recap: August crude oil is trading modestly higher while OPEC
meets in Vienna, likely getting ready to announce an increase in oil
production. European stocks are a little higher and Dow Jones futures are also
pointing to a higher open. Most commodities are starting higher Friday with
soybeans showing early profit-taking after another week of lower prices.
OUTSIDE MARKETS: Thursday's trading saw the Dow Jones Industrial Average drop
196.10 points to 24,461.70 while the S&P 500 was down 17.56 points to 2,749.76
and the 10-year Treasury yield ended at 2.90%. Early Friday, DJIA futures were
up 107 points. Asian markets were mixed with Japan's Nikkei 225 down 176.21
points (-0.8%) and China's Shanghai Composite up 13.95 (0.5%). European markets
were higher with London's FTSE 100 up 46.73 points (0.6%), Germany's DAX up
50.06 points (0.4%), and France's CAC 40 up 40.03 points (0.7%). The euro was
up 0.0036 and the U.S. dollar index was down 0.33 to 94.33. September 30-year
T-Bonds were down 9/32nds while August gold was up $0.70 at $1,271.20 and
August crude oil was up $0.71 at $66.25. Soybeans on China's Dalian Exchange
were steady to lower and Malaysian palm oil futures were up 1.5%.