6:00 a.m. CME Globex: March corn is up 1 1/2 cents per bushel, March soybeans are up 1/4 cent, and May K.C. wheat is down 1/4 cent.
CME Globex Recap: Equities are stronger around the globe Friday morning with an especially strong reaction out of China to the news of progress in trade talks. Energy markets also continue to make their way higher with crude oil notching fresh 3-month highs yesterday.
Another big day of data for grains with six-weeks’ worth of export sales released to get the market caught back up to current. In addition, the USDA will release their first blush ideas on 2019/20 grain demand later Friday morning. Any further clarity on agreements between the U.S. and China will also drive price action heading into the weekend.
OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 103.81 at 25,850.63 and the S&P 500 down 9.82 at 2,784.70 while the 10-Year Treasury yield ended at 2.688%. Early Friday, the March DJIA futures are up 99 points.
Asian markets are mixed with Japan’s Nikkei 225 down 38.72 (-0.18%) and China’s Shanghai Composite up 52.42 points (1.9%). European markets are higher with London’s FTSE 100 up 29.18 points (0.41%), Germany’s DAX up 43.68 points (0.38%) and France’s CAC 40 up 17.52 points (0.34%).
The March Euro is down 0.000 at 1.140 and the March U.S. dollar index is up 0.042 at 96.505. The March 30-Year T-Bond is up 4/32nds, while April gold is down $3.10 at $1,324.70 and April crude oil is up $0.11 at $57.07. Soybeans on China’s Dalian Exchange were down -0.29% while soybean meal was up 0.43%.