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DTN Early Word Grains 05/22 08:01
Grain Markets Lower, Correcting Recent Gains Led by Losses in Soybean Oil
July corn is down 3 cents per bushel, July soybeans are down 6 1/4 cents,
July KC wheat is down 6 3/4 cents, July Chicago wheat is down 7 1/4 cents and
July Minneapolis wheat is down 5 3/4 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: July corn is down 3 cents per bushel, July
soybeans are down 6 1/4 cents, July KC wheat is down 6 3/4 cents, July Chicago
wheat is down 7 1/4 cents and July Minneapolis wheat is down 5 3/4 cents.
CME GLOBEX RECAP: Equity markets are lower after a poor session in the U.S.
on Wednesday. This week's bond issue from the U.S. treasury sold poorly in the
market, with rates rising sharply. The yield on the 20-year bond rose to over
5.0%, and that outcome sent U.S. equities sharply lower into the close.
Additionally, there remains concerns about the tax bill moving through
congress, which increases the federal deficit.
OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average down 816.80 to 41,860.44 and the S&P 500 down 95.85 points to 5,844.61.
The 10-Year Treasury yield ended at 4.481%. Early Wednesday, the June Dow Jones
Futures are down 279 points. European markets are mixed with the spot futures
of London's FTSE 100 trading up 0.04%, spot futures of Germany's DAX are
trading down 0.2% and the spot futures of France's CAC 40 Index down 0.55%.
Asian markets are mixed with Japan's Nikkei 225 Index down 0.61% and China's
Shanghai Composite Index up 0.21%.
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