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DTN Early Word Grains 03/01 05:39

1 Mar 2023
DTN Early Word Grains 03/01 05:39 March Begins With Crop Prices Mostly Higher Early May corn is up 1/2 cent, May soybeans are up 10 cents and May KC wheat is up 1 cent. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is up 1/2 cent, May soybeans are up 10 cents and May KC wheat is up 1 cent. CME GLOBEX RECAP: Early Wednesday, stock futures in the U.S. are a little higher, in line with stocks in Europe and Asia. Overnight manufacturing indices showed expanded activity in China, Australia and several Asian economies, while results were mixed in Europe with contraction indicated for the Eurozone overall. The U.S. Energy Department's weekly inventory report will be out at 9:30 a.m., including ethanol production. Wednesday's earnings reports include Lowe's Companies and the Royal Bank of Canada. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 232.39 at 32,656.70 and the S&P 500 down 12.09 at 3,970.15. The 10-Year Treasury yield ended at 3.92%, near the highest yield in over three months. Early Wednesday, March Dow Jones futures are up 82 points. Asian markets are higher with Japan's Nikkei 225 index up 0.26% and China's Shanghai Composite Index up 1.00%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.39%, spot futures of Germany's DAX trading up 0.19% and spot futures of France's CAC Index trading up 0.34%. The March euro is up $0.0057 at $1.0649. The March U.S. Dollar Index is down 0.37 at 104.46. The March 30-year T-bond is down 3/8nds, while April gold is up $1.40 at $1,838.10 and April crude oil is down $0.41 at $76.64. On China's Dalian exchange, May corn was up 0.2%, May soybeans were down 1.3%, May soybean meal was down 1.2% and May soybean oil was down 0.3%. May Malaysian palm oil is trading up 1.1%.