6:00 a.m. CME Globex: December corn was up 1 1/4 cents, November soybeans were down 2 1/4 cents, and September Chicago wheat was up 3 1/4 cents.
CME Globex Recap: Investors are looking more relaxed early Tuesday with less talk about Turkey and most stock markets trading higher. Outside commodities are mixed with both gold and crude oil trading a little higher. Grains are also mixed as the panic of Friday’s new USDA estimates appears to be easing.
OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average down 125.44 points at 25,187.70 and the S&P 500 down 11.35 points at 2,821.93 while the 10-year Treasury yield ended at 2.88%. Early Tuesday, DJIA futures were up 100 points.
Asian markets are mostly higher with Japan’s Nikkei 225 down 498.65 (2.3%) and China’s Shanghai Composite down 4.91 (-0.2%). European markets are modestly higher with London’s FTSE 100 up 1.24 points (0.02%), Germany’s DAX up 29.92 points (0.2%), and France’s CAC 40 up 8.45 points (0.2%).
The euro was up .0010 and the U.S. dollar index was down 0.03 at 96.29. September 30-year T-Bonds were down 10/32nds while December gold was up $2.70 at $1,201.60 and September crude oil was up $0.56 at $67.76. Soybeans on China’s Dalian Exchange were slightly higher and Malaysian palm oil futures were up 0.4%.