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DTN Early Word Grains 06/09 08:11
Row-Crop Markets Steady from Recent Dive
July corn is up 2 cents per bushel, July soybeans are steady, July KC wheat
is up 1/4 cent, July Chicago wheat is up 2 1/4 cents, and MIAX September
Minneapolis wheat is up 0.0100 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: July corn is up 2 cents per bushel, July
soybeans are steady, July KC wheat is up 1/4 cent, July Chicago wheat is up 2
1/4 cents, and MIAX September Minneapolis wheat is up 0.0100 cents.
CME GLOBEX RECAP: On Monday, July corn rose 1 1/4 cents, July soybeans
dropped 5 3/4 cents, and July KC wheat was up 3 1/4 cents. Soybean basis was
stronger on Monday, while soft red winter wheat, corn, hard red winter wheat,
and spring wheat basis held steady. Selling in the row-crop markets slowed at
the start of the week, following a steep drop last week. Bargain hunters
stepped into the corn and wheat markets, helping them finish in the green.
Traders are still awaiting fresh soybean sales to China, despite the USDA
announcing on Monday that purchases were made by an unknown buyer believed to
be China.
OUTSIDE MARKETS: The previous close on Monday showed the Dow Jones
Industrial Average down 80.77 at 50,786.01 and the S&P 500 up 21.99 at
7,405.73. The 10-Year Treasury yield ended at 4.552%. Early Tuesday, the June
Dow Jones Futures are up 96 points. European markets are mixed, with the spot
futures of London's FTSE 100 trading down 0.23%, the spot futures of Germany's
DAX trading up 0.55%, and the spot futures of France's CAC 40 Index trading up
0.82%. Asian markets are higher, with Japan's Nikkei 225 Index up 2.17% and
China's Shanghai Composite Index up 1.28%.
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