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DTN Grain Open: A Truly Mixed Morning

Ernst Undesser
By Darin Newsom DTN Senior Analyst November 16, 2017

DTN Grain Open: A Truly Mixed Morning

6:00 a.m. CME Globex: December corn was unchanged, January soybeans were 1 cent lower, and December Kansas City (HRW) wheat was 2 cents higher.

CME Globex Recap: The grain and oilseed complex was mixed early Thursday with soybeans edging lower, corn doing what corn usually does, meaning largely nothing, and winter wheat contracts tried to recover some of Wednesday’s sharp sell-off.

Other commodities were mixed with canola trading lower, cotton rallying again, the energy complex mostly lower, and metals higher. The U.S. dollar index and DJIA futures were also showing gains, the latter trying to put the brakes on the recent sell-off by the Big Board.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 138.19 points (0.6%) lower at 23,271.28, the NASDAQ Composite lost 31.66 points (0.5%) to 6,706.21, and the S&P 500 fell 14.25 points (0.6%) to 2,564.62 Wednesday. DJIA futures were 53 points higher early Thursday morning.

Asian markets closed mostly higher with Japan’s Nikkei 225 up 322.80 points (1.5%), Hong Kong’s Hang Seng gaining 167.07 points (0.6%), and China’s Shanghai Composite off 3.27 points (0.1%). European markets were trading higher with London’s FTSE 100 up 1.35 points, Germany’s DAX rallying 72.70 points (0.6%), and France’s CAC 40 adding 33.73 points (0.6%).

The euro was 0.0025 lower at 1.1766 while the U.S. dollar index gained 0.06 to 93.95. December 30-year T-Bonds were 10/32 lower at 153’22 while December gold gained $0.50 to $1,278.20. Crude oil was $0.11 lower at $55.22 while Brent crude slipped $0.15 to $61.72. China’s Dalian soybean and Malaysian palm oil futures were both higher overnight.

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Ernst Undesser
By Darin Newsom DTN Senior Analyst November 16, 2017