Pre-5:00 a.m. CME Globex: December corn was up 1 1/2 cents, November soybeans were up 1 1/4 cents, and December KC wheat was up 2 1/4 cents.
CME Globex Recap: Mixed overnight equities following the surge in the U.S. which can be attributed to either the Democrats winning the House, or the Republicans holding on to the Senate, depending on who one is talking to. Firmer grain markets into today’s WASDE report which is typically not a market mover.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 545.29 points at 26,180.30 and the S&P 500 up 58.44 points at 2,813.89 while the 10-year Treasury yield ended at 3.228%. Early Thursday, DJIA futures are down 87.00.
Asian markets were mixed with Japan’s Nikkei 225 up 401.12 points (1.82%) and China’s Shanghai Composite was down 5.71 points (-0.22%). European markets are also mixed with London’s FTSE 100 up 7.76 points (0.11%), Germany’s DAX down 11.34 points (0.10%), and France’s CAC 40 down 0.80 points (0.02%).
The euro was down $0.00410 at $1.14245 and the U.S. dollar index was up 0.0140 at 96.1770. September 30-year T-Bonds were down 3/32nds while December gold was down $3.60 at $1225.10 and December crude oil was up $0.50 at $62.17. Soybeans on China’s Dalian Exchange closed down 0.52% and soymeal closed down 0.60%.