DTN Early Word Grains 12/02 06:00
Row Crops Weaker, Wheat Firmer at Mid-week
March corn is down 1 3/4 cents per bushel, January soybeans are down 9 1/2
cents, and March KC wheat is up 2 1/2 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: March corn is down 1 3/4 cents per bushel, January
soybeans are down 9 1/2 cents, and March KC wheat is up 2 1/2 cents.
CME Globex Recap: Mixed equity trade around the globe overnight while U.S.
futures are pointed at a modestly lower open. Financial news continues to be
dominated by hopes for a stimulus and hopes for timely distribution of a
vaccine. It was announced overnight the United Kingdom had become the first
country to approve a COVID-19 vaccine following large-scale clinical trials
with the fist doses of expected to be delivered in coming days. Energy markets
are lightly weaker overnight, the U.S. Dollar Index is stabilizing after
dropping to fresh lows and precious metals are higher for the second day in a
row. Grains are mixed overnight with row crops weaker while wheat contracts are
firmer. Weakness in Dalian soybeans was notable overnight as most contracts
slip to three-month lows. Focus remains on Chinese demand and South American
OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial
Average up 185.28 at 29,823.92 and the S&P 500 up 40.82 at 3,621.63 while the
10-Year Treasury yield ended at 0.934%. Early Wednesday, the December DJIA
futures are down 87 points. Asian markets are mixed with Japan's Nikkei 225 up
13.44 (0.05%) and China's Shanghai Composite down 2.56 points (-0.07%).
European markets are lower with London's FTSE 100 up 13.35 points (0.22%),
Germany's DAX down 38.94 points (-0.29%) and France's CAC 40 down 10.49 points
(-0.19%). The December Euro is up 0.001 at 1.210 and the December U.S. dollar
index is up 0.028 at 91.325. The March 30-Year T-Bond is up 10/32nds, while
February gold is up $15.00 at $1,833.90 and January crude oil is down $0.04 at
$44.51. Soybeans on China's Dalian Exchange were down 0.99% while soybean meal
was down 1.37% and corn was down 0.27%.