DTN Grain Open: Commodities Start Red as a Valentine

©Debra L Ferguson Stock Images

6:00 a.m. CME Globex: March corn was 1 3/4 cents lower, March soybeans were 2 3/4 cents lower, and July Kansas City (HRW) wheat was 4 cents lower.

CME Globex Recap: It looks like Cupid was busy shooting arrows overnight as much of Wednesday morning’s commodity board is painted as red as a Valentine. On the financial side, stocks are poised for a modestly higher start to the day while the U.S. dollar is slightly lower. Seven-day forecasts remain mostly dry for Argentina and the western U.S. Plains.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 39.18 points (0.2%) higher at 24,640.45, the NASDAQ Composite gained 31.55 points (0.4%) to 7,013.51, and the S&P 500 was up 6.94 points (0.3%) to 2,662.94 Tuesday. DJIA futures were 133 points higher early Wednesday morning.

Asian markets were mixed with Japan’s Nikkei 225 down 90.51 points (-0.4%), Hong Kong’s Hang Seng up 676.07 points (2.3%), and China’s Shanghai Composite up 14.20 points (0.4%). European markets were trading mostly higher with London’s FTSE 100 up 38.91 points (0.5%), Germany’s DAX up 83.40 points (0.7%), and France’s CAC 40 up 30.57 points (0.6%).

The euro was 0.0001 higher at 1.2381 while the U.S. dollar index was down 0.07 at 89.67. March 30-year T-Bonds were 3/32 higher at 144’21 while April gold gained $3.50 to $1,334.00. Crude oil was $0.47 lower at $58.72 and Brent crude was down $0.30 to $62.42. China’s Dalian soybean futures were slightly higher and Malaysian palm oil futures was down 0.5% overnight.

Latest Posts