6:00 a.m. CME Globex: December corn was up 2 3/4 cents, November soybeans were up 3 3/4 cents, and September Kansas City (HRW) wheat was up 2 1/2 cents.
CME Globex Recap: Investors limped back into global stocks early Thursday while commodities were mixed and grains a little higher overall. Trade continues to be a concern for the world economy and more specifically, soybean prices. USDA’s next WASDE report is set for 11 a.m. CDT and is expected to be bearish for row crops.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 219.21 points at 24,700.45 and the S&P 500 down 19.82 points at 2,774.02 while the 10-year Treasury yield ended at 2.84%. Early Thursday, DJIA futures were up 177 points.
Asian markets are higher with Japan’s Nikkei 225 dup 255.75 points (1.2%) and China’s Shanghai Composite up 59.89 (2.2%). European markets are a little higher with London’s FTSE 100 up 48.63 points (0.6%), Germany’s DAX up 39.57 points (0.3%), and France’s CAC 40 up 18.40 points (0.3%).
The euro was steady and the U.S. dollar index was up 0.06 at 94.77. September 30-year T-Bonds were down 9/32nds while August gold was up $0.60 at $1,245.00 and August crude oil was up $0.65 at $71.03. Soybeans on China’s Dalian Exchange were steady to lower and Malaysian palm oil futures were down 0.6%.