DTN Early Word Grains 06/17 05:47
17 Jun 2024
DTN Early Word Grains 06/17 05:47 Grain Markets Lower as Traders Look Past This Week to More Moderate Weather July corn is down 5 1/4 cents per bushel, July soybeans are down 15 cents, July KC wheat is down 14 1/4 cents, July Chicago wheat is down 16 1/4 cents and September Minneapolis wheat is down 6 3/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: July corn is down 5 1/4 cents per bushel, July soybeans are down 15 cents, July KC wheat is down 14 1/4 cents, July Chicago wheat is down 16 1/4 cents and September Minneapolis wheat is down 6 3/4 cents. CME GLOBEX RECAP: World equity markets are lower to begin the new week. Last week, both the S&P 500 and the NASDAQ made new lifetime highs, as interest rates fell on the weaker than expected inflation data. The Federal Reserve kept rates unchanged but said it will be data dependent on when the first cut does take place. The data is starting to skew toward a rate cut. There are several economic reports this week. On Monday we get the Empire State Manufacturing Survey while Tuesday is Retail Sales, Industrial Production, Capacity Utilization, and Business Inventories. Markets are closed on Wednesday. Thursday brings Initial Jobless Claims, Housing Starts, and Building Permits. Friday gives U.S. the S&P flash PMI's, Existing Home Sales, and U.S. Leading Economic Indicators. In agriculture, we will get weekly inspections on Monday, along with the monthly NOPA crush report. Wednesday's holiday will push back ethanol production to Thursday, and Export Sales to Friday. Additionally on Friday, we will get a cattle on feed report, a milk production report, and weekly CFTC data. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 57.94 at 38,589.16 and the S&P 500 down 2.14 at 5,431.60, The 10-Year Treasury yield ended at 4.21%. Early Monday, the June Dow Jones Futures are down 98 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.4%, spot futures of Germany's DAX is trading down 0.28% and the spot futures of France's CAC 40 Index down 0.28%. Asian markets are lower with Japan's Nikkei 225 Index down 1.83% and China's Shanghai Composite Index down 0.55%.