DTN Early Word Grains 10/17 06:07
Prices Mostly Weaker as Traders Grasp for News, Harvest Results
December corn was 1/2 higher, November soybeans were unchanged, and December
KC wheat was down 2 1/4.
DTN Contributing Analyst
Pre-5:00 a.m. CME Globex: December corn was 1/2 higher, November soybeans
were unchanged, and December KC wheat was down 2 1/4.
CME Globex Recap: Mixed equity trade around the globe overnight with the same
true in the energy markets. The Bloomberg Commodity Index has recovered from
last week's sell-off, although equities are gaining on commodities as a whole
from their plunge. Crude oil remains above all major moving averages. Quiet
grain trade as we await more harvest results.
OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial
Average up 547.87 points at 25,798.42 and the S&P 500 up 59.13 points at
2,809.92 while the 10-year Treasury yield ended at 3.167%. Early Wednesday,
DJIA futures were down 107.00. Asian markets were mixed with Japan's Nikkei 225
up 291.88 points (1.29%) and China's Shanghai Composite was up 15.28 points
(0.60%). European markets are mixed with London's FTSE 100 up 11.43 points
(0.16%), Germany's DAX down 49.20 points (-0.42%), and France's CAC 40 down
0.82 points (-0.02%). The euro was down 0.00145 at 1.15940 and the U.S. dollar
index was up 0.0370 at 95.1280. September 30-year T-Bonds were down 5/32nds
while December gold was down $0.10 at $1230.90 and November crude oil was down
$0.38 at $71.54. Soybeans on China's Dalian Exchange closed unchanged and
soymeal closed down 0.89%.
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