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DTN Early Word Grains 07/14 05:58
Corn, Soybeans Turn Lower on Improved Crop Ratings
September corn is down 5 1/4 cents and August soybeans are down 5 1/4 cents.
September KC wheat is down 5 cents, September Chicago wheat is down 4 1/2
cents, and September MIAX Minneapolis wheat is down 1 cents.
Rhett Montgomery
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: September corn is down 5 1/4 cents and
August soybeans are down 5 1/4 cents. September KC wheat is down 5 cents,
September Chicago wheat is down 4 1/2 cents, and September MIAX Minneapolis
wheat is down 1 cents.
CME GLOBEX RECAP: On Monday, September corn rose 1 1/4 cents to $4.41.
August soybean futures were up 5 cents to $11.96 3/4, while September Kansas
City wheat fell 10 cents to $6.66 1/4. Corn and soybeans started the week on a
positive note, although initial strength faded gradually through Monday's
session with both finishing well below Monday morning highs. Meanwhile, wheat
futures fell on profit taking to open the week. Early Tuesday, corn and
soybeans are lower thus far after USDA showed improved crop ratings in Monday
afternoon's update. Energy markets are off to another firm start for Tuesday,
with crude oil futures moving to the highest level in almost a month after
President Trump announced on Monday that the U.S. will reimplement the blockade
of the Strait of Hormuz, followed by another round of strikes as the conflict
continues to re-escalate following the end of the mid-June ceasefire last week.
For reports Tuesday, the June Consumer Price Index will be out at 7:30 a.m. CDT
later Tuesday morning.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial
Average down 138.37 at 52,498.64 and the S&P 500 Index down 60.05 at 7,515.34.
The 10-Year Treasury yield ended at 4.61%. Early Tuesday, September Dow Jones
futures are down 105 points. European markets are mixed with the spot futures
of the London FTSE 100 trading down 0.40%, spot futures of Germany's DAX
trading down 0.47% and spot futures of France's CAC Index trading up 0.30%.
Asian markets are higher with Japan's Nikkei 225 index up 0.74% and China's
Shanghai Composite Index up 1.36%.
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