DTN Early Word Grains 03/17 08:02
Grain Markets Higher on CFTC Data, Rebound in Equity and Energy Markets
May corn is up 5 cents, May soybeans are up 4 cents and May KC wheat is up 8
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: May corn is up 5 cents, May soybeans are
up 4 cents and May KC wheat is up 8 cents.
CME GLOBEX RECAP: European equity markets are higher Friday morning as the
worst of the banking crisis seems to have passed with the bailout of Credit
Suisse. The ECB raised interest rates a half a point and expressed confidence
in the European banking system. U.S. markets rallied Thursday but have turned
slightly lower early Friday morning. Interest rates jumped Thursday as the
market re-evaluates its estimates about what the Fed might do next week.
OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average up 371.98 at 32,246.55 and the S&P 500 Index up 68.35 at 3,960.28. The
10-Year Treasury yield ended at 3.59%. Early Friday, June Dow Jones futures are
down 62 points. European markets are higher with the spot futures of the London
FTSE 100 trading up 0.71%, spot futures of Germany's DAX trading up 0.39% and
spot futures of France's CAC Index trading up 0.23%. Asian markets are also
higher with Japan's Nikkei 225 index up 1.20% and China's Shanghai Composite
Index up 0.07%.
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