Pre-5:00 a.m. CME Globex: December corn was up 3/4 cent, November soybeans were down 4 1/4 cents, and December K.C. wheat was down 1/4 cent.
CME Globex Recap: Major stock markets were lower early Tuesday, weighed down by several concerns, including the U.S. trade war with China, disappointing earnings reports in Europe, concerns about Italy’s debt, and increasingly strained relations with Saudi Arabia. Most commodities are also being influenced lower early, including grains.
OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average down 126.93 points at 25,317.41 and the S&P 500 down 11.90 points at 2,755.88 while the 10-year Treasury yield ended at 3.20%. Early Tuesday, DJIA futures were down 294 points.
Asian markets are lower with Japan’s Nikkei 225 down 604.04 (-2.7%) and China’s Shanghai Composite down 60.05 (-2.3%). European markets are also lower with London’s FTSE 100 down 78.37 points (-1.1%), Germany’s DAX down 275.78 points (-2.4%), and France’s CAC 40 down 87.06 points (-1.7%).
The euro was up .0009 and the U.S. dollar index was down 0.14 at 95.88. December 30-year T-Bonds were up 26/32nds while December gold was up $13.80 at $1,238.40 and December crude oil was down $1.06 at $68.30. Soybeans on China’s Dalian Exchange were moderately lower and Malaysian palm oil futures were down 1.0%.