DTN Grain Open: Weather Pressures Corn, Wheat

    ©Debra L Ferguson Stock Photography

    6:00 a.m. CME Globex: July corn was 1 cent lower, July soybeans were 1 cent higher, and July Kansas City (HRW) wheat was 5 cents lower.

    CME Globex Recap: Grains were mixed early Monday morning with global oilseeds mostly higher. Corn was under pressure from a better weather weekend allowing for more planting to take place. Winter wheat took that same weather and ran with much lower with it, showing solid overnight losses.

    Outside markers were mostly higher led by strong rallies in old-crop cotton and crude oil. Gold was also showing gains early Monday. Financials were mixed with DJIA futures higher and the U.S. dollar index lower.

    OUTSIDE MARKETS: The Dow Jones Industrial Average closed 22.81 points (0.1%) lower at 20,896.61, the NASDAQ Composite gained 5.27 points (0.1%) to 6,121.23, and the S&P 500 lost 3.54 points (0.1%) to 2,390.90 Friday. DJIA futures were 19 points higher early Monday morning.

    Asian markets closed mostly higher with Japan’s Nikkei down 14.05 points, Hong Kong’s Hang Seng gaining 215.25 points (0.9%), and China’s Shanghai Composite rallying 6.72 points (0.2%). European markets were trading mostly lower with London’s FTSE 100 gaining 10.13 points (0.1%), Germany’s DAX down 29.12 points (0.2%), and France’s CAC 40 off 15.72 points (0.3%).

    The euro was 0.0026 higher at 1.0957 while the U.S. dollar index lost 0.24 to 98.95. June 30-year T-Bonds were 4/32 higher at 151’18 while June gold added $4.10 to $1,231.80. Crude oil was $1.32 higher at $49.16 while Brent crude rallied $1.39 to $52.23. China’s Dalian soybean futures were lower while Malaysian palm oil futures were higher.

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