6:00 a.m. CME Globex: March corn is up 3 3/4 cents per bushel, March soybeans are up 2 3/4 cents, and March K.C. wheat is up 5 1/4 cents.
CME Globex Recap: Equities are mixed around the globe. News China has decided to ban Australian coal imports related to the country’s decision to block Huawei from supplying telecoms equipment has the Aussie Dollar off close to 1.0%.
This appears to be a sign China is not willing to lay down without a fight against the West, possibly raising the stakes for the ongoing trade talks in Washington. The U.S. is at the forefront of the anti-Huawei movement.
Grains are higher across the board after Wednesday’s washout and partial recovery. A bevy of data to be released Thursday including acreage ideas from the USDA Outlook Forum.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 63.12 at 25,954.44 and the S&P 500 up 4.94 at 2,779.76 while the 10-Year Treasury yield ended at 2.654%. Early Thursday, the March DJIA futures are up 17 points.
Asian markets are mixed with Japan’s Nikkei 225 down 32.74 (0.15%) and China’s Shanghai Composite up 9.42 points (-0.34%). European markets are lower with London’s FTSE 100 down 50.38 points (-0.7%), Germany’s DAX up 8.69 points (0.08%) and France’s CAC 40 down 5.22 points (-0.1%).
The March Euro is down 0.001 at 1.140 and the March U.S. dollar index is up 0.116 at 96.410. The March 30-Year T-Bond is down 5/32nds, while April gold is down $9.70 at $1,338.20 and April crude oil is up $0.12 at $57.28. Soybeans on China’s Dalian Exchange were down -0.09% while soybean meal was down -0.28%.