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DTN Grain Open: Quiet Overnight Trade

Ernst Undesser
By Darin Newsom DTN Senior Analyst November 14, 2017

DTN Grain Open: Quiet Overnight Trade

6:00 a.m. CME Globex: December corn was fractionally lower, January soybeans were 1 cent higher, and December Chicago (SRW) wheat was fractionally lower.

CME Globex Recap: The grain and oilseed complex was in familiar territory early Tuesday morning with corn fractionally lower, wheat lower, and soybeans higher. Overnight activity looked to be quiet, with little fresh news to provide direction. Other commodities were mostly lower with metals and energies under pressure while softs, including cotton, were mostly higher. The U.S. dollar index was down while DJIA futures sat near unchanged.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 17.49 points higher at 23,439.70, the NASDAQ Composite gained 6.66 points (0.1%) to 6,757.60, and the S&P 500 added 2.54 points (0.1%) to 2,584.84 Monday. DJIA futures were 1 point lower early Tuesday morning.

Asian markets closed lower with Japan’s Nikkei 225 down 0.98 point, Hong Kong’s Hang Seng off 30.06 points (0.1%), and China’s Shanghai Composite down 18.29 points (0.5%). European markets were trading mostly lower with London’s FTSE 100 up 16.31 points (0.2%), Germany’s DAX adding 7.72 points, and France’s CAC 40 down 3.18 points.

The euro was 0.0051 higher at 1.1720 while the U.S. dollar index lost 0.23 to 94.29. December 30-year T-Bonds were 8/32 higher at 152’21 while December gold fell $5.20 to $1,273.70. Crude oil was $0.19 lower at $56.57 while Brent crude lost $0.16 to $63.00. China’s Dalian soybean and Malaysian palm oil futures were both lower overnight.

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Ernst Undesser
By Darin Newsom DTN Senior Analyst November 14, 2017