6:00 a.m. CME Globex: March corn is up 1/2 cent, March soybeans are up 1/2 cent and March KC wheat is up 1 1/2 cents.
CME Globex Recap: U.S. stock futures are a little higher early Friday, even as the Financial Times reported coronavirus deaths are now up to 1,383. Friday morning reports include U.S. industrial production and an index of consumer sentiment.
March crude oil is up 75 cents, finding a little love on Valentine’s Day as traders struggle to assess world oil demand early in 2020. Outside commodities are mixed to higher.
OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 128.11 at 29,423.31 and the S&P 500 down 5.51 at 3,373.94 while the 10-Year Treasury yield ended at 1.62%. Early Friday, March Dow Jones futures are up 27 points.
Asian markets are mixed with Japan’s Nikkei 225 down 140.14 (-0.6%) and China’s Shanghai Composite up 10.93 points (0.4%). European markets are mixed with London’s FTSE 100 down 5.38 points (-0.1%), Germany’s DAX up 22.87 points (0.2%) and France’s CAC 40 down 8.98 points (-0.2%).
The March euro is up slightly at $1.0866. The March U.S. dollar index is unchanged at 98.96. The March 30-year T-bond is up 14/32nds, while April gold is up $.30 at $1,579.10 and March crude oil is up $0.75 at $52.17.
Soybeans are a little lower on China’s Dalian Exchange while soybean meal is roughly steady. April palm oil was up 1.3% overnight, but is still near its three-month low.