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DTN Early Word Grains 05/01 05:48
Grain Markets Mostly Lower on Continued Soy Deliveries, Lower Energy Prices
July corn is down 1/2 cent per bushel, July soybeans are down 4 1/4 cents,
July KC wheat is down 2 cents, July Chicago wheat is up 4 3/4 cents and July
Minneapolis wheat is down 3 3/4 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: July corn is down 1/2 cent per bushel,
July soybeans are down 4 1/4 cents, July KC wheat is down 2 cents, July Chicago
wheat is up 4 3/4 cents and July Minneapolis wheat is down 3 3/4 cents.
CME GLOBEX RECAP: World equity markets are mixed but mostly lower Wednesday
morning, as traders brace for Wednesday afternoon's press conference from Fed
Chairman Powell. Traders are universal in expecting no changes in interest rate
policy, but the tone of the comments in the communique and in the post meeting
Q&A with the media are what will move the markets Wednesday.
Tuesday's economic data was mixed, with Employment Costs and the Case
Shiller Home Price Index both stronger than traders were expecting. However,
the Chicago Business Barometer and Consumer Confidence were both lower than
expectations.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average down 570.17 at 37,815.92 and the S&P 500 down 80.48 at 5,035.69, The
10-Year Treasury yield ended at 44.63%. Early Wednesday, the June Dow Jones
Futures are down 93 points. European markets are mixed with the spot futures of
London's FTSE 100 trading up 0.04%, spot futures of Germany's DAX is trading
down 1.16% and the spot futures of France's CAC 40 Index down 0.8%. Asian
markets are mixed with Japan's Nikkei 225 Index down 0.34% and China's Shanghai
Composite Index is steady.
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