6:00 a.m. CME Globex: July corn was up 1/4 cent, July soybeans were up 4 3/4 cents, and September Kansas City (HRW) wheat was down 1 3/4 cents.
CME Globex Recap: August crude oil is trading modestly higher while OPEC meets in Vienna, likely getting ready to announce an increase in oil production. European stocks are a little higher and Dow Jones futures are also pointing to a higher open. Most commodities are starting higher Friday with soybeans showing early profit-taking after another week of lower prices.
OUTSIDE MARKETS: Thursday’s trading saw the Dow Jones Industrial Average drop 196.10 points to 24,461.70 while the S&P 500 was down 17.56 points to 2,749.76 and the 10-year Treasury yield ended at 2.90%. Early Friday, DJIA futures were up 107 points.
Asian markets were mixed with Japan’s Nikkei 225 down 176.21 points (-0.8%) and China’s Shanghai Composite up 13.95 (0.5%). European markets were higher with London’s FTSE 100 up 46.73 points (0.6%), Germany’s DAX up 50.06 points (0.4%), and France’s CAC 40 up 40.03 points (0.7%).
The euro was up 0.0036 and the U.S. dollar index was down 0.33 to 94.33. September 30-year T-Bonds were down 9/32nds while August gold was up $0.70 at $1,271.20 and August crude oil was up $0.71 at $66.25. Soybeans on China’s Dalian Exchange were steady to lower and Malaysian palm oil futures were up 1.5%.