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DTN Early Word Grains 02/26 05:46
EPA's Advancement of the RFS Rule to the OMB May Juice Row-Crop Markets
May corn is up 1 3/4 cents per bushel, May soybeans are up 2 1/2 cents, May
KC wheat is down 1 cent, May Chicago wheat is up 1 1/4 cents, and MIAX May
Minneapolis wheat is down 0.0150 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: May corn is up 1 3/4 cents per bushel, May
soybeans are up 2 1/2 cents, May KC wheat is down 1 cent, May Chicago wheat is
up 1 1/4 cents, and MIAX May Minneapolis wheat is down 0.0150 cents.
CME GLOBEX RECAP: On Wednesday, May corn closed up 3 1/2 cents, May soybeans
up 9 1/2 cents, and May KC wheat closed down 2 3/4 cents. Corn, soybean, and
soft red winter basis were stronger, while spring wheat basis was weaker on
Wednesday, and hard red winter wheat basis was steady. The soybean prices,
starting slowly but rallying by late morning, were near the November highs.
Corn jumped for the third time in four sessions. Wheat prices lagged due to
profit-taking. Corn and hard red winter basis were steady, while spring wheat,
soybean, and soft red winter wheat basis were stronger on Tuesday. U.S. and
Iran, set to hold talks Thursday over Israel's nuclear program, are far apart
in heading off a war, the Wall Street Journal reported early Thursday.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones
Industrial Average up 307.65 at 49,482.15 and the S&P 500 up 56.06 at 6,946.13.
The 10-Year Treasury yield ended at 4.048%. Early Thursday, the March Dow Jones
Futures are down 57 points. European markets are higher, with the spot futures
of London's FTSE 100 trading up 0.23%, spot futures of Germany's DAX are
trading up 0.27%, and the spot futures of France's CAC 40 Index are up 0.7%.
Asian markets are mixed, with Japan's Nikkei 225 Index up 0.29% and China's
Shanghai Composite Index down 0.01%.
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