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DTN Early Word Grains 04/23 05:52
Grain Markets Mixed as World Markets Rebound on President's Powell, China
Comments
May corn is down 1/2 cent per bushel, May soybeans are up 6 1/2 cents, July
KC wheat is down 1/2 cent, July Chicago wheat is up 1 1/4 cents and July
Minneapolis wheat is up 3/4 cent.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: May corn is down 1/2 cent per bushel, May
soybeans are up 6 1/2 cents, July KC wheat is down 1/2 cent, July Chicago wheat
is up 1 1/4 cents and July Minneapolis wheat is up 3/4 cent.
CME GLOBEX RECAP: World equity markets are higher as President Trump
indicated Tuesday afternoon he has no intention of firing Fed Chairman Jerome
Powell. Additionally, Trump indicated negotiations may begin soon with the
Chinese and that there is a possibility that tariffs could come down. This
unleased a strong rally in U.S. stock futures, which regained all of Monday's
losses. Optimism around potential trade deals has futures higher again
Wednesday morning, both in the U.S. and in world markets. While there were no
new economic data releases Tuesday, Wednesday morning will bring updates on new
home sales, flash PMI's from S&P, and the release of the Fed Beige book.
OUTSIDE MARKETS: Previous close Tuesday showed the Dow Jones Industrial
Average up 1,016.57 at 39,186.98 and the S&P 500 up 129.56 at 5,287.76, The
10-Year Treasury yield ended at 4.389%. Early Wednesday, the June Dow Jones
Futures are up 673 points. European markets are higher with the spot futures of
London's FTSE 100 trading up 1.3%, spot futures of Germany's DAX is trading up
2.63% and the spot futures of France's CAC 40 Index up 2.23%. Asian markets are
mixed with Japan's Nikkei 225 Index up 1.89% and China's Shanghai Composite
Index down 0.1%.
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