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DTN Grain Open: Green Light for Commodities

Ernst Undesser
By Todd Hultman DTN Analyst January 19, 2018

DTN Grain Open: Green Light for Commodities

©Debra L Ferguson Stock Images

6:00 a.m. CME Globex: March corn was up 1 1/2 cents, March soybeans were up 3 1/2 cents, and March Chicago (SRW) wheat was up 1 cent.

CME Globex Recap: Except for modest losses in energies, the rest of the commodity board is mostly higher early Friday, including nearly every grain and soybean contract. Stocks around the globe are also trading higher, including a 98 point gain in Dow Jones futures.

OUTSIDE MARKETS: On Thursday, the Dow Jones Industrial Average closed down 97.84 points (-0.4%) at 26,017.81, the NASDAQ Composite was down 2.23 points (-0.03%) to 7,296.05, and the S&P 500 was down 4.53 points (-0.2%) to 2,798.03. DJIA futures were 98 points higher early Friday morning.

Asian markets were mostly higher early Friday with Japan’s Nikkei 225 up 44.69 points (0.2%), Hong Kong’s Hang Seng up 132.95 points (0.4%), and China’s Shanghai Composite adding 13.11 points (0.4%). European markets were also trading higher with London’s FTSE 100 up 19.25 points (0.2%), Germany’s DAX up 121.32 points (0.9%), and France’s CAC 40 gaining 25.52 points (0.5%).

The euro gained 0.0245 to 1.2305 as the U.S. dollar index fell 0.15 to 90.33. March 30-year T-Bonds were 10/32 lower at 149’04 while February gold was up $7.50 to $1,334.70. Crude oil was $0.35 lower at $63.54 while Brent crude lost $0.40 to $68.91. China’s Dalian soybean prices were mixed to lower and Malaysian palm oil futures were 1.25% lower overnight.

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Ernst Undesser
By Todd Hultman DTN Analyst January 19, 2018