DTN Grain Open: Mixed Trade to Begin Week

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

CME Globex Recap: Quiet equity markets to begin the week but are unlikely to remain so given the next major trade deadline looms this coming Sunday on December 15. Without a deadline extension or a larger trade deal, President Trump has said he will impose another 15% tariff on the remaining $160 billion worth of Chinese goods.

Also important this week will be the next Federal Reserve FOMC meeting, at which the body is expected to leave benchmark interest rates unchanged. Commodity traders will also be watching talks surrounding the United States-Mexico-Canada-Agreement, or NAFTA 2.0, which will resume on Monday.

Grain markets are mixed with the soy complex sporting gains while corn and wheat contracts are mainly lower. The weekly crop progress report will hopefully clue the market into just how much harvest remains in the Upper-Midwest as additional precipitation and bitter cold engulfs the area this week. South American weather is mostly favorable although dry spots in Argentina continue to be a focus by private weather forecasters.

OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average up 337.27 at 28,015.06 and the S&P 500 up 28.48 at 3,145.91 while the 10-Year Treasury yield ended at 1.822%. Early Monday, the December DJIA futures are down 18 points.

Asian markets are higher with Japan’s Nikkei 225 up 76.30 (0.33%) and China’s Shanghai Composite up 2.46 points (0.08%). European markets are lower with London’s FTSE 100 down 11.53 points (-0.16%), Germany’s DAX down 15.30 points (-0.11%) and France’s CAC 40 down 20.01 points (-0.34%).

The December Euro is up 0.001 at 1.1145 and the December U.S. dollar index is down 0.101 at 97.145. The March 30-Year T-Bond is up 13/32nds, while February gold is up $2.40 at $1,467.50 and January crude oil is down $0.54 at $58.66.

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