DTN Grain Open: Mixed to Weaker, Equity Selloff Continues

On-farm grain bin system. ©Debra L Ferguson

6:00 a.m. CME Globex: March corn was down 1/2 cent, January soybeans were down 5 3/4 cents, and March KC wheat was down 1/4 cent.

CME Globex Recap: Financial markets around the globe are continuing their Tuesday selloff due in part to the arrest in Canada of a top executive at Huawei, one of China’s national technology champions. The arrest has investors nervous as it could impact trade-war talks. Equity selling has spilled into energies with crude down over 4.5%. Grains are insulated so far Thursday morning with only light losses as optimism still reigns about Chinese ag purchases. USDA Export Sales and Shipments report delayed until Friday morning.

OUTSIDE MARKETS: Equity markets were closed Wednesday in recognition of the national day of mourning for former President George H.W. Bush. Early Thursday, DJIA futures are down 472.00.

Asian markets were lower with Japan’s Nikkei 225 down 417.71 points (-1.91%) and China’s Shanghai Composite was down 44.62 points (-1.68%). European markets are lower with London’s FTSE 100 down 179.79 points (-2.60%), Germany’s DAX down 264.97 points (-2.37%), and France’s CAC 40 down 121.28 points (-2.45%).

The euro was up 0.00160 at 1.13355 and the U.S. dollar index was up 0.1150 at 97.1110. September 30-year T-Bonds were up 18/32nds while December gold was down $0.30 at $1242.30 and December crude oil was down $1.78 at $51.11. Soybeans on China’s Dalian Exchange closed up 0.21% and soymeal closed up 1.31%.

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