DTN Early Word Grains 08/10 05:57
Grains Mixed to Weaker Wet Week Ahead
December corn is steady, November soybeans are down 2 cents, and September
KC wheat is down 1 1/2 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: December corn is steady, November soybeans are
down 2 cents, and September KC wheat is down 1 1/2 cents.
CME Globex Recap: Equities are mostly higher around the globe overnight,
despite news China was imposing sanctions on 11 U.S. citizens in response to
similar measures from Washington on Chinese officials. The tit for tat
continues but so far hasn't interrupted Chinese purchases of U.S. farm goods.
Energy markets are higher with spot crude oil up over 1.0% but still below the
200-day moving average. The U.S. Dollar Index is firmer while precious metals
are higher but below last week's highs. Grain markets are mostly weaker
overnight with small gains in corn the only green on the screen. Traders will
be squaring positions until Wednesday, preparing for the biggest USDA data
release since the end of June. Where the USDA sets the bar on the first
objective production report of the season will hold large implications for the
rest of 2020.
OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average up 46.50 at 27,433.48 and the S&P 500 up 2.12 at 3,349.16 while the
10-Year Treasury yield ended at 0.562%. Early Monday, the September DJIA
futures are up 101 points. Asian markets are mixed with Japan's Nikkei 225 down
88.21 (-0.39%) and China's Shanghai Composite up 25.22 points (0.75%). European
markets are higher with London's FTSE 100 up 18.38 points (0.3%), Germany's DAX
up 6.21 points (0.05%) and France's CAC 40 up 16.51 points (0.34%). The
September Euro is down 0.003 at 1.180 and the September U.S. dollar index is up
0.128 at 93.540. The September 30-Year T-Bond is up 5/32nds, while December
gold is up $11.00 at $2,039.00 and September crude oil is up $0.56 at $41.78.
Soybeans on China's Dalian Exchange were up 0.68% while soybean meal was down
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