6:00 a.m. CME Globex: December corn is up 2 cents per bushel, November soybeans are up 5 1/2 cents, and December K.C. wheat is up 3 1/4 cents.
CME Globex Recap: Global equity markets are higher around the globe, despite a weekend vote in the U.K. that failed to secure backing for an official ‘Brexit.’ According to financial media, British Prime Minister Boris Johnson will make another attempt Monday to secure a win with parliament and have his Brexit deal with the European Union supported.
Grain markets have shaken off early session weakness to post gains across the board as additional delays loom with U.S. harvest as a giant band of moisture stretches from eastern Texas to North Dakota and works east. The weekly progress report on Monday afternoon should show sizable delays relative to average on both corn and soybean harvest, although decent progress was made on bean harvest before the weekend moisture.
No updates to the U.S.-China trade deal, but that will continue to grab headlines as we get ready for the economic conference in Chile which both President Trump and President Xi are expected to attend.
OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 255.68 at 26,770.20 and the S&P 500 down 11.75 at 2,997.95 while the 10-Year Treasury yield ended at 1.747%. Early Monday, the December DJIA futures are up 31 points.
Asian markets are higher with Japan’s Nikkei 225 up 56.22 (0.25%) and China’s Shanghai Composite up 1.48 points (0.05%). European markets are higher with London’s FTSE 100 up 6.8 points (0.1%), Germany’s DAX up 68.09 points (0.54%) and France’s CAC 40 up 3.87 points (0.07%).
The December Euro is up 0.000 at 1.120 and the December U.S. dollar index is down 0.063 at 96.945. The December 30-Year T-Bond is down 22/32nds, while December gold is down $0.10 at $1,494.00 and November crude oil is down $0.40 at $53.38. Soybeans on China’s Dalian Exchange were up 0.12% while soybean meal was up 1.46%.