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DTN Early Word Grains 09/30 05:50
Row-Crop Markets to Digest USDA Data, Eye Harvest-Delaying Weather
December corn is up 3 1/4 cents per bushel, November soybeans are up 3 3/4
cents, December KC wheat is up 2 1/2 cents, December Chicago wheat is up 4 3/4
cents, and MIAX December Minneapolis wheat is up 0.0575 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is up 3 1/4 cents per
bushel, November soybeans are up 3 3/4 cents, December KC wheat is up 2 1/2
cents, December Chicago wheat is up 4 3/4 cents, and MIAX December Minneapolis
wheat is up 0.0575 cents.
CME GLOBEX RECAP: On Tuesday, December corn fell 1 cent, November soybeans
rose 9 1/2 cents, and December KC wheat fell 2 3/4 cents. Soybean, spring
wheat, and soft red winter basis were stronger Tuesday, while corn and hard red
winter wheat basis were steady. On Tuesday, soybean futures shifted focus to
the U.S. harvest pace. September rainfall has slowed harvest progress in the
Midwest. Lower crude oil prices pressured corn, while wheat traded on a lack of
news. Wednesday is a busy day for reports, beginning with the Bureau of
Economic Analysis' Personal Consumption Expenditure Index for August at 7:30
a.m. CDT. Later at 9:30 a.m. CDT, the Energy Information Administration will
release the weekly Petroleum Status Report. Finally, at 11 a.m. CDT, USDA will
release both the Quarterly Grain Stocks and Small Grains Summary reports,
giving a look into grain inventories around the U.S. as of September 1.
OUTSIDE MARKETS: The previous close on Tuesday showed the Dow Jones
Industrial Average down 131.59 at 51,349.92 and the S&P 500 down 12.85 at
7,670.84. The 10-Year Treasury yield ended at 5.255%. Early Wednesday, the
December Dow Jones Futures are up 51 points. European markets are mixed, with
spot futures for London's FTSE 100 up 0.37%, spot futures for Germany's DAX
down 0.06%, and spot futures for France's CAC 40 Index down 0.49%. Asian
markets are higher, with Japan's Nikkei 225 Index up 1.94% and China's Shanghai
Composite Index up 0.31%.
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