| |
DTN Early Word Grains 08/03 05:45
Row-Crop Markets Start August Trading with All Eyes on Weather
December corn is down 1 3/4 cents per bushel, November soybeans are down 5
cents, September KC wheat is down 2 cents, September Chicago wheat is up 1 1/2
cents, and MIAX September Minneapolis wheat is down 0.0200 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 3/4 cents per
bushel, November soybeans are down 5 cents, September KC wheat is down 2 cents,
September Chicago wheat is up 1 1/2 cents, and MIAX September Minneapolis wheat
is down 0.0200 cents.
CME GLOBEX RECAP: On Friday, September corn dropped 5 cents, November
soybeans dropped 1 1/4 cents, and September KC wheat dropped 23 1/4 cents.
Soybean basis was weaker and hard red winter wheat basis was stronger Friday,
while spring wheat, soft red winter wheat and corn basis were steady. On
Friday, end-of-month profit-taking pulled down the farm markets. Additionally,
favorable crop weather for the first seven days of August took out the weather
premium. Over the weekend, rain in the Midwest, along with President Trump
calling off attacks on Iran, have grain and energy markets poised to start the
week weaker. On the first business day of August, USDA will release its weekly
Export Inspections report at 10 a.m. CDT. At 2 p.m. CDT, the monthly Oilseed
and Grain Crushing reports will be released with data from June. USDA releases
its weekly Crop Progress report at 3 p.m. CDT, including development and
condition info for U.S. crops.
OUTSIDE MARKETS: The previous close on Friday showed the Dow Jones
Industrial Average up 276.97 at 52,485.03 and the S&P 500 up 52.09 at 7,489.72.
The 10-Year Treasury yield ended at 4.745%. Early Monday, the September Dow
Jones Futures are up 337 points. European markets are mixed, with the spot
futures of London's FTSE 100 trading down 0.02%, spot futures of Germany's DAX
are trading up 1.4%, and the spot futures of France's CAC 40 Index are up
1.26%. Asian markets are lower, with Japan's Nikkei 225 Index down 0.94% and
China's Shanghai Composite Index down 0.59%.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up Free today!
|
|
