DTN Early Word Grains 04/23 05:57
Grains Back Off Early Friday
July corn is down 9 cents, July soybeans are down 6 1/2 cents and July KC
wheat is down 3 1/2 cents.
DTN Lead Analyst
Pre-6 a.m. Globex Prices: July corn is down 9 cents, July soybeans are down
6 1/2 cents and July KC wheat is down 3 1/2 cents.
CME Globex Recap: Early Friday, Dow Jones futures are a little higher after
Thursday's lower close. Rumors circulated Thursday that President Joe Biden was
about to announce a plan to increase the capital gains tax and the top marginal
rate on incomes. Rising coronavirus infections remain a concern in India and
Russia's defense minister said troops will be pulled back from Ukraine's border.
OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average down 321.41 at 33,815.90 and the S&P 500 down 38.44 at 4,134.98 while
the 10-Year Treasury yield ended at 1.55%. Early Friday, June Dow Jones futures
are up 43 points. Asian markets are mixed with Japan's Nikkei 225 index down
0.57% and China's Shanghai Composite Index up 0.26%. European markets are a
little lower with the spot futures of the London FTSE 100 trading down 0.27%,
spot futures of Germany's DAX trading down 0.35% and spot futures of France's
CAC Index trading down 0.12%. The June euro is up $0.0052 at $1.2072. The June
U.S. Dollar Index is down 0.31 at 91.01. The June 30-year T-bond is unchanged,
while June gold is up $3.70 at $1,785.70 and June crude oil is up $0.17 at
$61.60. On China's Dalian exchange, September corn was up 0.8%, July soybeans
were up 0.7%, September soybean meal was up 0.9% and September soybean oil was
up 1.2%. July common wheat on China's Zhengzhou exchange was unchanged. June
Malaysian palm oil is trading down 0.4%.