DTN Grain Open: Traders Focusing On Equities, Not Commodities

Photo: Kansas State University

CME Globex, 6 a.m.: December corn was down 2 1/2, November soybeans were down 2, and December K.C. wheat was down 1 1/4.

CME Globex Recap: Quiet in financial markets overnight but interesting to note traders still heavily favoring equities to commodities. The S&P 500/Bloomberg Commodity Index set a new record high ratio of 34.96 on Wednesday.

Grains awaiting fresh input in the way of USDA data or harvest results next week.


Soybeans on China’s Dalian Exchange closed up 0.49% while meal was up 0.45%.

Previous closes on Thursday showed the Dow Jones Industrial Average up 20.88 points at 25,995.87 and the S&P 500 down 10.55 points at 2,878.05 while the 10-year Treasury yield ended at 2.884%. Early Thursday, DJIA futures were down 4.75.

Asian markets are lower with Japan’s Nikkei 225 down 180.88 (-0.80%) and China’s Shanghai Composite up 10.71 (-0.40%).

European markets are mostly lower with London’s FTSE 100 down 20.10 points (-0.27%), Germany’s DAX down 19.49 points (-0.16%), and France’s CAC 40 up 1.40 points (0.03%). The euro was up at 1.16495 and the U.S. dollar index was down 0.1060 at 94.9210. September 30-year T-Bonds were down 4/32nds while December gold was up $1.10 at $1205.40 and October crude oil was up $0.12 at $67.89.

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