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DTN Early Word Grains 06/16 05:46
Row Crops Struggle Against Technical Resistance to Begin Week
July corn is down 4 1/4 cents and July soybeans are up 1/4 cents. July KC
wheat is down 5 3/4 cents, July Chicago wheat is down 6 3/4 cents, and July
MIAX Minneapolis wheat is down 4 cents.
Rhett Montgomery
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: July corn is down 4 1/4 cents and July
soybeans are up 1/4 cents. July KC wheat is down 5 3/4 cents, July Chicago
wheat is down 6 3/4 cents, and July MIAX Minneapolis wheat is down 4 cents.
CME GLOBEX RECAP: U.S. Ag markets are mixed to begin the new week following
strong Friday sessions for both soybeans and wheat, and also a decent late week
price rally for corn futures as well. For early Monday, friendly crop weather
as well as technical resistance across all three row crop markets have stalled
gains thus far. For this week, markets will have a series of world events to
keep tabs on. Firstly, the G-7 Summit in Canada will run through Tuesday and
will be the latest opportunity for trade negotiations among world leaders.
Meanwhile, the conflict between Israel and Iran continued through the weekend,
with each side reportedly striking at the other's energy infrastructure.
Although damage specifics at this point are unclear, volatility in energy
markets can be expected to be heightened through the ongoing war.
OUTSIDE MARKETS: Previous closes Sunday showed the Dow Jones Industrial
Average down 769.83 to 42,197.79 and the S&P 500 Index down 68.29 at 5,976.97.
The 10-Year Treasury yield ended at 4.42%. Early Monday, June Dow Jones futures
are up 171 points. European markets are higher with the spot futures of the
London FTSE 100 trading up 0.49%, spot futures of Germany's DAX trading up
0.43% and spot futures of France's CAC Index trading up 0.93%. Asian markets
are also higher with Japan's Nikkei 225 index up 1.26% and China's Shanghai
Composite Index up 0.35%.
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