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DTN Early Word Grains 03/17 05:40
Grain Markets Higher on Strong Demand, Value Buying
May corn is up 5 cents per bushel, May soybeans are up 1 1/4 cents, May KC
wheat is up 17 cents, May Chicago wheat is up 12 1/4 cents and May Minneapolis
wheat is up 11 3/4 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: May corn is up 5 cents per bushel, May
soybeans are up 1 1/4 cents, May KC wheat is up 17 cents, May Chicago wheat is
up 12 1/4 cents and May Minneapolis wheat is up 11 3/4 cents.
CME GLOBEX RECAP: World equity markets are mixed with U.S. markets lower as
traders continue to worry about recession and the impacts of potential tariffs
and retaliations from our trading partners. The S&P 500 closed lower on Friday
for the fourth consecutive week as a mixture of weaker than expected economic
data combined with the inflationary impact of tariffs has pressed down on
equity values.
This week, the trade will be getting several new data points. Monday brings
U.S. retail sales, business inventories, and the home builder confidence index.
Tuesday gives U.S. housing starts, building permits, industrial production, and
capacity utilization. The March Federal Reserve meeting is this week, and their
interest rate decision comes on Wednesday. Thursday brings initial jobless
claims, the Philli-Fed survey, existing home sales, and U.S. leading economic
indicators.
OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average up 674.62 at 41,488.19 and the S&P 500 up 117.42 at 5,638.94. The
10-Year Treasury yield ended at 4.308%. Early Monday, the March Dow Jones
Futures are down 159 points. European markets are higher with the spot futures
of London's FTSE 100 trading up 0.23%, spot futures of Germany's DAX is trading
up 0.42% and the spot futures of France's CAC 40 Index up 0.38%. Asian markets
are higher with Japan's Nikkei 225 Index up 0.93% and China's Shanghai
Composite Index up 0.19%.
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