DTN Grain Open: Trade Talks, Government Shutdown in Focus

©Debra L Ferguson Stock Photography

6:00 a.m. CME Globex: March corn is down 3/4 cent per bushel, March soybeans are down 3/4 cent, and March K.C. wheat is down 2 3/4 cents.

CME Globex Recap: In global financial markets, the focus is on the resumption of trade talks between the U.S. and China this week in Beijing as well as efforts to avoid another U.S. government shutdown on Friday. High-level talks, including U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, will begin later this week after lower-level talks starting Monday.

Talks to avoid another government closure remain deadlocked over President Trump’s border wall. Grains are weaker Monday morning following Friday’s USDA report release. The market seems to have quickly decided much of the data we received was dated, and until reports get current, our markets are likely rangebound.

OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 63.20 at 25,106.33 and the S&P 500 up 1.83 at 2,706.05 while the 10-year Treasury yield ended at 2.632%. Early Monday, the March DJIA futures are up 90 points.

Asian markets are mixed with Japan’s Nikkei 225 down 418.11 (-2.01%) and China’s Shanghai Composite up 35.66 points (1.36%). European markets are higher with London’s FTSE 100 up 69.31 points (0.98%), Germany’s DAX up 124.49 points (1.14%) and France’s CAC 40 up 56.02 points (1.13%).

The March euro is down 0.002 at 1.130 and the March U.S. dollar index is up 0.209 at 96.625. The March 30-Year T-Bond is down 6/32nds, while April gold is down $8.50 at $1,310.00 and March crude oil is down $0.44 at $52.28. Soybeans on China’s Dalian Exchange were up 1.6% while soybean meal was down -0.35%.

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