DTN Early Word Grains 02/18 05:56
Chicago Wheat Presses Higher Early Tuesday
March corn is up 3 cents, March soybeans are up 2 1/2 cents and March
Chicago wheat is up 11 1/2 cents.
By Todd Hultman
DTN Lead Analyst
6:00 a.m. CME Globex: March corn is up 3 cents, March soybeans are up 2 1/2
cents and March Chicago wheat is up 11 1/2 cents.
CME Globex Recap: March Chicago wheat is trading higher early Tuesday,
bouncing back from last week's 16-cent drop with another show of support from
lower SRW wheat supplies. Row crops are steady to higher with harvest making
steady progress in Brazil. U.S. and European stocks were starting lower Tuesday
after Apple expressed concern about the impact of coronavirus on its business.
OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average down 25.23 at 29,398.08 and the S&P 500 up 6.22 at 3,380.16 while the
10-Year Treasury yield ended at 1.59%. Early Tuesday, March Dow Jones futures
are down 165 points. Asian markets are mostly lower with Japan's Nikkei 225
down 329.44 (-1.4%) and China's Shanghai Composite up 1.35 points (0.1%).
European markets are lower with London's FTSE 100 down 47.04 points (-0.6%),
Germany's DAX down 77.92 points (-0.6%) and France's CAC 40 down 22.15 points
(-0.4%). The March euro is down $.0012 at $1.0848. The March U.S. dollar index
is up 0.07 at 99.08. The March 30-year T-bond is up 31/32nds, while April gold
is up $4.30 at $1,590.70 and April crude oil is down $0.72 at $51.60. Soybeans
are slightly higher on China's Dalian Exchange while soybean meal is modestly
lower. April palm oil was down 0.2% overnight and is still near its three-month
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