DTN Early Word Grains 05/17 05:51
Grain Prices Pull Back From Monday's Surge
July corn was down 7 3/4 cents, July soybeans were down 3 1/2 cents and July
KC wheat was down 31 1/2 cents.
DTN Lead Analyst
Pre-6 a.m. Globex Prices: July corn was down 7 3/4 cents, July soybeans were
down 3 1/2 cents and July KC wheat was down 31 1/2 cents.
CME GLOBEX RECAP: Early Tuesday, U.S. stocks on the Dow Jones Industrials
are trading higher along with stocks in Europe and Asia. According to CNBC.com
and data from the company, Refinitiv, 78% of companies have beat quarterly
earnings expectations with 90% reported, so far. Several media sources are
reporting Ukrainian troops are withdrawing from Mariupol.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial
Average up 26.76 at 32,223.42 and the S&P 500 down 15.88 at 4,008.01 as the
10-Year Treasury yield ended at 2.88%, down from the highest level in three and
a half years. Early Tuesday, June Dow Jones futures are trading up 473 points.
Asian markets are higher with Japan's Nikkei 225 index up 0.42% and China's
Shanghai Composite Index up 0.65%. European markets are higher with the spot
futures of the London FTSE 100 trading up 0.83%, spot futures of Germany's DAX
trading up 1.58% and spot futures of France's CAC Index trading up 1.53%. The
June euro is up $0.0048 at $1.0497. The June U.S. Dollar Index is down 0.48 at
103.73. The June 30-year T-bond is down 21/32nds, while June gold is up $12.70
at $1,826.70 and June crude oil is up $0.35 at $114.55. On China's Dalian
exchange, September corn was up 0.5%, July soybeans were up 0.2%, September
soybean meal was up 0.5% and September soybean oil was down 0.4%. June
Malaysian palm oil is trading up 0.3%.