6:00 a.m. CME Globex: March corn was fractionally lower, January soybeans were 7 cents lower, and March Chicago (SRW) was fractionally lower.
CME Globex Recap: Soybeans continue to quickly erase gains seen earlier in the week, following through on Wednesday’s sell-off with more losses overnight. Corn and Chicago wheat were fractionally lower, while Kansas City and Minneapolis wheat showed quiet gains. Outside markets were mixed buying seen in the energy complex and selling once again in metals.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 39.73 points (0.2%) lower at 24,140.91, the NASDAQ Composite gained 14.16 points (0.2%) to 6,776.38, and the S&P 500 fell 0.30 point to 2,629.27 Wednesday. DJIA futures were 6 points higher early Thursday morning.
Asian markets closed mostly higher with Japan’s Nikkei 225 up 320.99 points (1.5%), Hong Kong’s Hang Seng rallying 78.39 points (0.3%), and China’s Shanghai Composite losing 21.91 points (0.7%). European markets were trading mostly higher with London’s FTSE 100 off 0.61 point, Germany’s DAX gaining 47.28 points (0.4%), and France’s CAC 40 up 10.18 points (0.2%).
The euro fell another 0.0018 to 1.1779 as the U.S. dollar index rallied 0.21 to 93.73. March 30-year T-Bonds were 8/32 lower at 153’26 while February gold lost $8.30 to $1,257.80. Crude oil was $0.29 higher at $56.25 while Brent crude added $0.46 to $61.68. China’s Dalian soybean futures were sharply lower while Malaysian palm oil futures were lower overnight.