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DTN Early Word Grains 04/15 05:52
Row-Crop Markets Digest Rain Relief for Planting Season
May corn is up 3 1/2 cents per bushel, May soybeans are up 6 cents, July KC
wheat is down 4 1/4 cents, May Chicago wheat is down 4 1/2 cents, and MIAX July
Minneapolis wheat is up 0.0025 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: May corn is up 3 1/2 cents per bushel, May
soybeans are up 6 cents, July KC wheat is down 4 1/4 cents, May Chicago wheat
is down 4 1/2 cents, and MIAX July Minneapolis wheat is up 0.0025 cents.
CME Globex Recap: On Tuesday, May corn rose 2 3/4 cents, May soybeans
dropped 4 1/4 cents, and May KC wheat rose by 19 1/2 cents. Corn, soybean, soft
red winter wheat, and hard red spring wheat basis levels were all unchanged on
Tuesday, while hard red winter wheat basis was stronger. Wheat finished up
double digits for the second session in a row on drier crop conditions for the
remainder of April. Corn benefited from the wheat rally. Optimism for peace
talks this week between the U.S. and Iran weakened the energy markets. That
said, soybean oil prices faded, pressuring the soybean futures. U.S. wheat
growing weather and corn and soybean planting weather are taking center stage
in the markets. The U.S. Central Command reported on Tuesday that a blockade of
Iranian ports is giving U.F. forces maritime superiority in the Middle East.
The Energy Information Administration will release its weekly Petroleum Status
report on Wednesday morning at 9:30 a.m. CDT.
OUTSIDE MARKETS: The previous close on Tuesday showed the Dow Jones
Industrial Average up 317.74 points at 48,535.99, and the S&P 500 up 81.14
points at 6,967.38. The 10-Year Treasury yield ended at 4.256%. Early
Wednesday, the June Dow Jones Futures are down 4 points. European markets are
higher, with the spot futures of London's FTSE 100 trading up 0.09%, spot
futures of Germany's DAX are trading up 0.14%, and the spot futures of France's
CAC 40 Index are down 0.56%. Asian markets are higher, with Japan's Nikkei 225
Index up 0.44% and China's Shanghai Composite Index up 0.01%.
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