DTN Early Word Grains 06/18 06:04
Grains Are Steady To Higher Early Tuesday
Corn futures are higher, soybeans higher and wheat higher at 6 a.m. CDT.
By Todd Hultman
6:00 a.m. CME Globex: December corn 2 cents higher, November soybeans 6 3/4
cents higher, and July wheat 6 1/2 cents higher.
CME Globex Recap: Grains are steady to higher early Tuesday after Monday's
Crop Progress report said only 85% of soybeans were planted and reduced the
winter wheat crop rating further. The latest five-day forecast expects more
rain in Iowa, Minnesota, and Wisconsin. Crude oil and gold are steady to lower.
Dow Jones futures are higher with the Federal Reserve starting its two-day
meeting later on Tuesday.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 109.67 points higher
Monday at 15,179.85. The overnight session has the Dow Jones futures trading 37
points higher early on Monday, indicating higher prices for U.S. stocks later
in the morning. Asian markets were higher with the Nikkei up 205 points at
13,295. European markets were also higher. The overnight crude oil market was
$0.14 lower at $97.63 while Brent crude was $0.15 lower at $105.32. The August
gold contract was $5.80 lower at $1,377.30 while the U.S. dollar index is 0.07
lower at 80.90. Soybeans at the Dalian Exchange were higher while Malaysian
palm oil contracts were slightly higher.
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