DTN Early Word Grains 12/03 05:56
Grains Mixed Ahead of Export Sales
March corn is down 3/4 cent per bushel, January soybeans are up 5 1/4 cents,
and March KC wheat is down 3 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: March corn is down 3/4 cent per bushel, January
soybeans are up 5 1/4 cents, and March KC wheat is down 3 cents.
CME Globex Recap: Mixed to weaker equity trade overnight with a rather muted
U.S. opening expected according to futures. Investors seem captivated by
stimulus talks in the U.S. and looming economic data like the unemployment
report Friday morning. The latest stimulus proposal, which has bi-partisan
support, calls for $908 billion worth of aid with details to be released next
Tuesday. Energy markets are solidly weaker overnight while the U.S. Dollar
Index drifts to the lowest levels since April 2018. Dalian commodity markets
were under a fair amount of pressure overnight and bear watching in the
sessions immediately ahead. Grain markets are mixed with the soy complex
recovering from Wednesday's selloff while wheat and corn back-and-fill after
their higher close. Weather and weekly demand indicators continue to drive the
bus until supply comes back in focus after the first of the year.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones
Industrial Average up 59.87 at 29,883.79 and the S&P 500 up 6.56 at 3,662.45
while the 10-Year Treasury yield ended at 0.948%. Early Thursday, the December
DJIA futures are down 21 points. Asian markets are mixed with Japan's Nikkei
225 up 8.39 (0.03%) and China's Shanghai Composite down 7.24 points (-0.21%).
European markets are lower with London's FTSE 100 up 1.6 points (0.02%),
Germany's DAX down 44.41 points (-0.33%) and France's CAC 40 down 12.67 points
(-0.23%). The December Euro is up 0.003 at 1.210 and the December U.S. dollar
index is down 0.195 at 90.920. The March 30-Year T-Bond is up 13/32nds, while
February gold is up $14.70 at $1,844.90 and January crude oil is down $0.31 at
$44.97. Soybeans on China's Dalian Exchange were down 1.03% while soybean meal
was down 1.42%.
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