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DTN Early Word Grains 07/01 07:48
Row-Crop Selling Resumes Following Neutral USDA Reports on Monday
September corn is down 6 cents and August soybeans are down 8 cents.
September KC wheat is down 3 cents, September Chicago wheat is down 1/4 cents,
and September MIAX Minneapolis wheat is down 3 1/4 cents.
Rhett Montgomery
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: September corn is down 6 cents and August
soybeans are down 8 cents. September KC wheat is down 3 cents, September
Chicago wheat is down 1/4 cents, and September MIAX Minneapolis wheat is down 3
1/4 cents.
CME GLOBEX RECAP: Grain futures are lower early Tuesday as the market
returns to weather-focused, bearish trade after Monday's USDA data gave little
surprises to alter trader bias -- at least in the short term. Monday
afternoon's Crop Progress also showed mostly steady conditions for corn and
soybeans, and strong harvest progress for the U.S. winter wheat crop. In
outside markets, a lot of focus through the balance of the week will be on the
2025 budget bill which Senate Republicans are pushing to have voted on and
passed by Friday's Fourth of July goal. This as well as tariff concerns will
likely drive investor and trader sentiment through at least the first couple
weeks of July ahead of the 90-day tariff pause deadline as well.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial
Average up 275.50 at 44,094.77 and the S&P 500 Index up 31.88 at 6,204.95. The
10-Year Treasury yield ended at 4.23%. Early Tuesday, September Dow Jones
futures are down 35 points. European markets are lower with the spot futures of
the London FTSE 100 trading down 0.29%, spot futures of Germany's DAX trading
down 0.52% and spot futures of France's CAC Index trading down 0.34%. Asian
markets are mixed with Japan's Nikkei 225 index down 1.24% and China's Shanghai
Composite Index up 0.39%.
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