DTN Grain Open: Mixed Start as Volatility, Capital Flee Amid Shutdown

©Debra L Ferguson Stock Images

6:00 a.m. CME Globex: March corn down 1 3/4 cents, March soybeans down 2 cents, and March KC Wheat up 1 1/4 cents.

CME Globex Recap: Global equity markets are mainly softer this morning as the U.S. government shutdown and U.S-Chinese trade talks will be the main focus. Real concern is surfacing as to the effect of the government shutdown on economic growth.

Grains are mostly weaker to begin the week as the government shutdown continues to drain volatility from the Ag space. It looks as though February will be the next set of USDA reports, although only if political leaders come to an agreement very soon.

OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 336.25 at 24,706.35 and the S&P 500 up 34.75 at 2,670.71 while the 10-yr Treasury yield ended at 2.771%. Early Tuesday, DJIA futures are down 145.00 points.

Asian markets are lower with Japan’s Nikkei 225 down 96.42 points (-0.47%) and China’s Shanghai Composite down 30.81 points (-1.18%). European markets are lower with London’s FTSE 100 down 29.93 points (-0.43%), Germany’s DAX down 24.75 points (-0.22%), and France’s CAC 40 down 14.77 points (-0.30%).

The euro was down 0.00075 at 1.13905 and the U.S. dollar index was up 0.0280 at 96.3470. March 30-year T-Bonds were up 13/32nds while February gold was up $1.20 at $1283.80 and March crude oil was down $0.69 at $53.35. Soybeans on China’s Dalian Exchange closed up 0.32% while soymeal closed up 0.16%.

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