DTN Early Word Grains 11/18 06:03
Grains Mixed to Begin New Week
December corn is up 1/4 cent per bushel, January soybeans are up 1 1/2
cents, and December KC wheat is down 1/4 cent.
By Tregg Cronin
DTN Contributing Analyst
6:00 a.m. CME Globex: December corn is up 1/4 cent per bushel, January
soybeans are up 1 1/2 cents, and December KC wheat is down 1/4 cent.
CME Globex Recap: Global equities are mixed overnight with the focus for
investors this week on U.S.-China trade talks, the release of Federal Reserve
meeting minutes, data on U.S. housing and Q3 earnings season wrapping up. The
House of Representatives will continue their impeachment hearings this week
which should distract markets from most of the aforementioned. Grains are mixed
overnight with row crops mostly higher but not straying too far from unchanged
while wheat markets post small losses. Traders will continue to monitor row
crop harvest, especially in the upper Midwest, although field conditions have
allowed precious little combining to occur in the Dakotas and northern
Minnesota. Temperatures have not been warm enough to dry fields out, but they
haven't been cold enough to freeze the ground to support equipment. In
addition, grain moisture levels have stalled out in recent days, frustrating
farmers who are waiting for propane. South American weather remains benign or
even bearish, although most know the critical weather period is January through
March for Brazil and Argentina.
OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average up 222.93 at 28,004.89 and the S&P 500 up 23.83 at 3,096.63 while the
10-Year Treasury yield ended at 1.834%. Early Monday, the December DJIA futures
are up 66 points. Asian markets are higher with Japan's Nikkei 225 up 113.44
(0.49%) and China's Shanghai Composite up 17.86 points (0.62%). European
markets are lower with London's FTSE 100 up 4.99 points (0.07%), Germany's DAX
down 12.87 points (-0.1%) and France's CAC 40 down 14.39 points (-0.25%). The
December Euro is up 0.001 at 1.110 and the December U.S. dollar index is down
0.086 at 97.785. The December 30-Year T-Bond is down 6/32nds, while December
gold is down $9.60 at $1,458.90 and December crude oil is down $0.02 at $57.70.
Soybeans on China's Dalian Exchange were down 0.06% while soybean meal was up
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