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DTN Early Word Grains 03/30 05:40
Row-Crop Markets Set to Trade Fresh USDA Data, War Uncertainty
EARLY MORNING GLOBEX NET CHANGES: May corn is up 3/4 cent per bushel, May
soybeans are up 6 1/2 cents, May KC wheat is down 5 1/4 cents, May Chicago
wheat is down 3/4 cent, and MIAX May Minneapolis wheat is down 0.0075 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: May corn is up 3/4 cent per bushel, May
soybeans are up 6 1/2 cents, May KC wheat is down 5 1/4 cents, May Chicago
wheat is down 3/4 cent, and MIAX May Minneapolis wheat is down 0.0075 cents.
CME GLOBEX RECAP: On Friday, May corn fell 5 cents, May soybeans dropped 14
1/2 cents, and May KC wheat increased by 6 cents. Corn and soybean basis were
stronger, while spring wheat basis was weaker on Friday, and hard red winter
wheat and soft red winter wheat basis were steady. The focus of traders will be
on the war in Iran and its impact on energy markets. Crude oil remained over
$100 per barrel on Sunday. Traders will position ahead of Tuesday's release of
the USDA's Prospective Plantings and Grain Stocks reports. Robust U.S. grain
reserves are expected. Additionally, pre-report estimates indicate increased
soybean acres and decreased corn acres compared to USDA's February estimates.
OUTSIDE MARKETS: The previous close on Friday showed the Dow Jones
Industrial Average down 793.47 at 45,166.64 and the S&P 500 down 108.31 at
6,368.85. The 10-Year Treasury yield ended at 4.44%. Early Monday, the June Dow
Jones Futures are up 145 points. European markets are lower, with spot futures
of London's FTSE 100 up 0.51%, spot futures of Germany's DAX down 0.31%, and
spot futures of France's CAC 40 Index down 0.1%. Asian markets are mixed, with
Japan's Nikkei 225 Index down 2.79% and China's Shanghai Composite Index up
0.24%.
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