Pre-5:00 a.m. CME Globex: December corn was down 2 1/2 cents, November soybeans were down 4 1/4 cents, and December KC wheat was down 6 1/2 cents.
CME Globex Recap: After a smart recovery from the end of October, U.S. equities look poised to close lower for the second session in a row. WTI crude is back below $60.00/barrel for the first time since February as additional production looks to come online in Iraq. Follow through selling in Grains after what was a mostly negative WASDE report.
OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average up 10.92 points at 26,191.22 and the S&P 500 down 7.06 points at 2,806.83 while the 10-year Treasury yield ended at 3.223%. Early Friday, DJIA futures are down 106.00.
Asian markets were lower with Japan’s Nikkei 225 down 236.67 points (-1.05%) and China’s Shanghai Composite was down 36.76 points (-1.39%). European markets are also lower with London’s FTSE 100 down 41.50 points (-0.58%), Germany’s DAX down 54.54 points (-0.47%), and France’s CAC 40 down 41.06 points (-0.80%).
The euro was down $0.00225 at $1.13410 and the U.S. dollar index was up 0.2510 at 96.8850. September 30-year T-Bonds were up 14/32nds while December gold was down $5.30 at $1219.80 and December crude oil was down $0.77 at $59.90. Soybeans on China’s Dalian Exchange closed unchanged and soymeal closed down 0.60%.