| |
DTN Early Word Grains 12/18 05:29
Row-Crop Traders Embrace Holiday Slowdown, Eye Global Weather
March corn is up 2 1/4 cents per bushel, January soybeans are steady, March
KC wheat is up 1 3/4 cents, March Chicago wheat is steady, and MIAX March
Minneapolis wheat is up 0.0025 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: March corn is up 2 1/4 cents per bushel,
January soybeans are steady, March KC wheat is up 1 3/4 cents, March Chicago
wheat is steady, and MIAX March Minneapolis wheat is up 0.0025 cents.
CME GLOBEX RECAP: On Wednesday, the corn and wheat markets finished higher,
while soybeans closed lower by 4 cents. Corn, soft red winter wheat, and hard
red winter wheat basis were steady, while soybean basis was stronger and spring
wheat basis was weaker. Traders continue to factor in favorable crop weather in
South America. Until January, the weather trend in central Brazil remains
bearish for the markets. Weekly ethanol data set a record for the week ended
Dec. 12, supporting corn prices. Chicago and Minneapolis wheat contracts hit
lows on Wednesday due to global supply pressures. Thursday's reports include
weekly export sales from the USDA at 7:30 a.m. CST, covering the week ended
Nov. 27. At the same time, the Bureau of Labor Statistics will release its
November Consumer Price Index report. Later in the afternoon, USDA will release
its weekly livestock slaughter report at 2 p.m. CST.
OUTSIDE MARKETS: The previous close on Wednesday showed the Dow Jones
Industrial Average down 228.29 at 47,885.97 and the S&P 500 down 78.83 at
6,721.43. The 10-Year Treasury yield ended at 4.151%. Early Thursday, the March
Dow Jones Futures are up 61 points. European markets are higher, with the spot
futures of London's FTSE 100 trading up 0.15%, spot futures of Germany's DAX
are trading up 0.16% and the spot futures of France's CAC 40 Index are up 0.3%.
Asian markets are mixed, with Japan's Nikkei 225 Index down 1.03% and China's
Shanghai Composite Index up 0.16%. The March euro is down 0.002 at 1.178, and
the March U.S. Dollar Index is up 0.153 at 98.155. The March 30-Year T-Bond is
up 9/32nds, while February gold is down $16.50 at $4,357.40, and February crude
oil is up $0.04 at $55.85. On China's Dalian Exchange, March corn was down
0.45% while January soybeans were down 1.05%, May soybean meal was down 0.76%
and March Malaysian Palm Oil was trading up 0.35%.
Your local weather forecast from DTN can be sent to your email every morning free through DTN Snapshot.
|
|
