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DTN Early Word Grains 10/08 05:48
Grain Markets Mostly Lower Tuesday Morning on Harvest Pressure, Increase in
Rainfall for Brazil
December corn is down 3 1/4 cents per bushel, November soybeans are down 15
3/4 cents, December KC wheat is down 2 3/4 cents, December Chicago wheat is
down 2 1/2 cents and December Minneapolis wheat is down 2 1/4 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is down 3 1/4 cents per
bushel, November soybeans are down 15 3/4 cents, December KC wheat is down 2
3/4 cents, December Chicago wheat is down 2 1/2 cents and December Minneapolis
wheat is down 2 1/4 cents.
CME GLOBEX RECAP: World equity markets are lower on Tuesday morning, with
China the notable exception as it returns from a week-long holiday. Concerns in
the U.S. extend to insurance companies who are bracing for more losses with
another hurricane baring down on Florida. Also concerning were downgrades of
both Apple and Amazon by wall street firms who have worries about future
earnings for those companies. Higher oil prices due to the escalation in the
Middle east weighed on markets Monday as well.
Monday's economic data point was the consumer credit report which said that
the U.S. consumer increased their debt load by 8.9 billion dollars, well below
the 13.2 billion that was forecast. This is both good and bad, as less debt for
the consumer is good, but the lower spending may indicate less confidence in
the future. Tuesday morning, we will get the U.S. trade deficit data.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial
Average down 398.51 at 41,954.24 and the S&P 500 down 55.13 at 5,695.94. The
10-Year Treasury yield ended at 4.026%. Early Tuesday, the December Dow Jones
Futures are up 78 points. European markets are mixed/higher/lower with the spot
futures of London's FTSE 100 trading down 1.23%, spot futures of Germany's DAX
is trading down 0.6% and the spot futures of France's CAC 40 Index down 1.05%.
Asian markets are mixed with Japan's Nikkei 225 Index down 0.05% and China's
Shanghai Composite Index was up 4.59%.
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