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.

OUTSIDE MARKETS:

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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