DTN Grain Open: Corn, Soy Complex Very Firm; Wheat Mixed

    ©Debra L Ferguson
    ©Debra L Ferguson Stock Images

    Pre-6 a.m. Globex Prices: May corn is up 8 1/2 cents, May soybeans are up 17 cents, and July KC May wheat is up 14 cents.

    CME Globex Recap:  Weather in South America featured rains that were mostly below expectations for Mato Grosso and Parana, but better chances are on tap for the next week. Wednesday’s March WASDE report was mostly neutral for corn and beans, and bearish for wheat. CONAB will be out with their revised South American estimates early on Thursday.

    Equities are lower to begin, with crude oil once again rising, and the U.S. Dollar Index higher.

    Early Thursday, Dow Jones futures are lower with European markets all lower and Asian markets higher. The bond market is mixed to mostly lower. The big news from Ukraine on Thursday is the escalation of Russian attacks om Ukraine, with the bombing of a maternity hospital the most atrocious. Concern is growing over Russia’s capture of several nuclear facilities in Ukraine and the threat of radiation leaks.

    OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 653.61 at 33,286.25 and the S&P 500 up 107.18 at 4,277.88 while the 10-Year Treasury yield ended higher at 1.948%. Early Thursday, the June DJIA futures are down 278 points.

    Asian markets are higher with Japan’s Nikkei up 972.87 (+3.94%) and China’s Shanghai Composite up 2.56 points (+0.08%). European markets are down, with London’s FTSE 100 down 67.44 points (-0.94%), Germany’s DAX down 300.67 points (-2.17%) and France’s CAC 40 down 124.73 points (-1.96%).

    The March Euro is at 1.10, and the March U.S. Dollar Index is up .332 at 98.285. The June 30-Year T-Bond is down 2/32nds, while June gold is up 11.60 at $2003.3 and April crude oil is up 4.28 at $112.98.

    Soybeans on China’s Dalian Exchange are higher and soybean meal is higher as well.

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