DTN Grain Open: Cautiously Higher in Early Trade

    Mature soybean pods ready for harvest. ©Debra L Ferguson

    Pre-6 a.m. Globex Prices: December corn is up 2 1/2 cents, November soybeans are up 3/4 cent and December KC wheat is up 1 cent.

    CME Globex Recap: Early Friday, Dow Jones futures are trading lower along with modestly lower trading in European stock markets. Coronavirus was back in the news this week and continues to weigh on economic expectations.

    The December U.S. Dollar Index is trading higher and commodities are starting the day mixed to higher. Late Thursday, USDA said U.S. hogs and pigs inventory totaled 79.1 million head, up 1% from a year ago and slightly more than expected.

    OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average up 52.31 at 26,815.44 and the S&P 500 up 9.67 at 3,246.59 while the 10-Year Treasury yield ended at 0.67%. Early Friday, December Dow Jones futures are down 141 points.

    Asian markets are mixed with Japan’s Nikkei 225 up 116.80 (0.5%) and China’s Shanghai Composite down 3.76 points (-0.1%). European markets are mostly lower with London’s FTSE 100 up 7.72 points (0.1%), Germany’s DAX down 50.17 points (-0.4%) and France’s CAC 40 down 29.36 points (-0.6%).

    The December euro is down $.0013 at $1.1673. The December U.S. Dollar Index is up .09 at 94.48. The December 30-year T-bond is up 1/32nd, while December gold is down $2.60 at $1,874.30 and November crude oil is up $0.21 at $40.52.

    On China’s Dalian Exchange, soybeans are slightly higher, while corn and soybean meal are trading a little lower early Friday. November palm oil is trading up 3.0%, finding late support after four days of trading lower this week.

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