6:00 a.m. CME Globex: July corn was 2 cents lower, July soybeans were 7 cents lower, and July Kansas City (HRW) wheat was 10 cents lower.
CME Globex Recap: The commodity sector in general was mixed while the grain and oilseed complex was mostly lower early Monday morning. Regarding the latter, follow-through selling from Friday’s session continued to dominate trade.
The U.S. dollar and Dow futures were both firm overnight, putting pressure on metals. Meanwhile, energies were mostly higher.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 332.36 points higher (1.4%) at 24,262.51, the Nasdaq Composite gained 121.47 points (1.7%) to 7,209.62, and the S&P 500 added 33.69 points (1.3%) to 2,663.42 Friday. DJIA futures were 56 points higher early Monday morning.
Asian markets closed mostly higher with Japan’s Nikkei 225 down 5.62 points, Hong Kong’s Hang Seng up 67.76 points (0.2%), and China’s Shanghai Composite gaining 45.61 points (1.5%). European markets were trading higher with London’s FTSE 100 up 64.45 points (0.9%), Germany’s DAX adding 53.74 points (0.4%), and France’s CAC 40 up 4.11 points.
The euro was 0.0033 lower at 1.1930 while the U.S. dollar index gained 0.23 to 92.80. June 30-year T-Bonds were 6/32 lower at 143’16 while June gold dropped $0.60 to $1,314.10. Crude oil was $0.68 higher at $70.40 as Brent crude rallied $0.69 to $75.56. China’s Dalian soybean futures were higher and Malaysian palm oil futures were mostly lower overnight.