DTN Grain Open: Soft Amid Expanding Harvest

    Soybean harvest. ©Debra L Ferguson

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

    CME Globex Recap: Grain markets are mostly weaker overnight with the soy complex adding to Monday’s losses while grains give back part of the rally. Another USDA report looms Wednesday amid surging harvest progress across the Midwest.

    Global equity markets are steady to weaker overnight with U.S. futures suggesting a mostly steady open. Tuesday evening will see the first Presidential debate between President Trump and former Vice President Biden, an event which should steal headlines for a couple of news cycles.

    Energy markets are weaker but crude oil continues to consolidate inside the recent range. The U.S. Dollar Index is weaker for the second session in a row after trade to two-month highs last week. Precious metals are higher overnight.

    OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average up 410.10 at 27,584.06 and the S&P 500 up 53.14 at 3,298.46 while the 10-Year Treasury yield ended at 0.663%. Early Tuesday, the December DJIA futures are up 2 points.

    Asian markets are higher with Japan’s Nikkei 225 up 27.48 (0.12%) and China’s Shanghai Composite up 6.82 points (0.21%). European markets are lower with London’s FTSE 100 down 27.23 points (-0.46%), Germany’s DAX down 62.91 points (-0.49%) and France’s CAC 40 down 10.99 points (-0.23%).

    The December Euro is up 0.003 at 1.170 and the December U.S. dollar index is down 0.132 at 94.170. The December 30-Year T-Bond is up 8/32nds, while December gold is up $7.00 at $1,889.30 and November crude oil is down $0.19 at $40.41. Soybeans on China’s Dalian Exchange were down 2% while soybean meal was down 0.45%.

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