6:00 a.m. CME Globex: May corn was fractionally lower, May soybeans were 3 cents lower, and July Kansas City wheat was fractionally lower.
CME Globex Recap: Major grain markets were all showing losses early Thursday morning, led once again by soybeans. The bean market looked to have an active overnight session while corn and wheat were relatively calm. Elsewhere, commodities were mostly higher with gold and crude oil both showing gains despite light renewed buying in the U.S. dollar index. DJIA futures were also higher.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 32.60 points (0.2%) higher at 20,775.60. The NASDAQ Composite lost 5.32 points (0.1%) to 5,860.63 and the S&P 500 dipped 2.56 points (0.1%) to 2,362.82 Wednesday. DJIA futures were 8 points lower early Thursday morning.
Asian markets were mostly lower with Japan’s Nikkei off 8.41 points, Hong Kong’s Hang Seng lost 87.10 points (0.4%), and China’s Shanghai Composite fell 9.84 points (0.3%). European markets were also mostly lower Thursday with London’s FTSE 100 down 9.66 points, Germany’s DAX losing 4.36 points, while France’s CAC 40 added 8.54 points (0.2%).
The euro was down again, losing another 0.0013 to 1.0548 while the U.S. dollar index added 0.05 to 101.38. March 30-year T-Bonds were 5/32 higher at 151’17 while April gold gained $5.80 to $1,239.10. Crude oil rallied $0.73 to $54.32 while Brent crude added $0.75 to $56.59. Dalian soybean and Malaysian palm oil futures were both lower overnight.