DTN Early Word Grains 05/07 06:00
Soybean Oil, Grains Keep Pushing Higher
July corn is up 6 3/4 cents, July soybeans are up 9 1/4 cents and July KC
wheat is up 6 1/4 cents.
DTN Lead Analyst
Pre-6 a.m. CDT prices, CME Globex: July corn is up 6 3/4 cents, July
soybeans are up 9 1/4 cents and July KC wheat is up 6 1/4 cents.
CME Globex Recap: Early Friday, Dow Jones futures are trading higher,
extending Thursday's new high with higher trading in Europe with analysts
expecting the Labor Department to show an increase of one million jobs in
Friday's nonfarm payrolls report. Thursday's jobless claims fell to the lowest
level since last year's pandemic, an encouraging sign the U.S. economy is
recovering. Meanwhile, COVID-19 cases in India continue to escalate.
Previous closes Thursday showed the Dow Jones Industrial Average up 318.19
at a new high of 34,548.53 and the S&P 500 up 34.03 at 4,201.62 while the
10-year Treasury yield ended at 1.56%. Early Friday, June Dow Jones futures are
up 104 points. Asian markets are mixed with Japan's Nikkei 225 index up 0.09%
and China's Shanghai Composite Index down 0.65%. European markets are higher
with the spot futures of the London FTSE 100 trading up 0.67%, spot futures of
Germany's DAX trading up 1.17% and spot futures of France's CAC Index trading
up 0.27%. The June euro is up $0.0026 at $1.2090. The June U.S. Dollar Index is
down 0.15 at 90.79. The June 30-year T-bond is down 6/32nds, while June gold is
up $5.20 at $1,820.90 and June crude oil is down $0.14 at $64.57. On China's
Dalian exchange, September corn was up 1.5%, July soybeans were up 2.1%,
September soybean meal was up 1.4% and September soybean oil was up 1.5%. July
common wheat on China's Zhengzhou exchange was unchanged. June Malaysian palm
oil is trading up 4.6%.
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