Pre-6 a.m. Globex Prices: December corn is down 2 cents per bushel, November soybeans are down 3 cents, and December KC wheat is up 4 1/2 cents.
CME Globex Recap: Grain markets are mixed with row crops lower while wheat tacks on solid gains overnight. Traders are awaiting the Quarterly Stocks report and Small Grains Annual Summary report at 11:00am CST. Big surprises were witnessed last year, although volatility should be somewhat more contained this year given mostly on-time planting and harvesting in the case of wheat.
Equity markets are lower around the globe overnight with U.S. futures pointed toward a lower open. As the U.S. Presidential debate came to a close last night, pundits were trying to attribute the direction in equity futures to the winner of the debate. Only one thing is for certain and that is the month of October will feel like an entire year by the time the election arrives.
Energy markets are weaker with RBOB gasoline futures down over 2.0% and crude oil below $39.00 per barrel. The U.S. Dollar Index has stabilized above the 94-handle area.
OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average down 131.40 at 27,452.66 and the S&P 500 down 16.13 at 3,351.60 while the 10-Year Treasury yield ended at 0.645%. Early Wednesday, the December DJIA futures are down 216 points.
Asian markets are lower with Japan’s Nikkei 225 down 353.98 (-1.5%) and China’s Shanghai Composite down 6.31 points (-0.2%). European markets are lower with London’s FTSE 100 down 12.34 points (-0.21%), Germany’s DAX down 84.48 points (-0.66%) and France’s CAC 40 down 29.57 points (-0.61%).
The December Euro is down 0.003 at 1.170 and the December U.S. dollar index is up 0.223 at 94.150. The December 30-Year T-Bond is down 6/32nds, while December gold is down $14.80 at $1,888.40 and November crude oil is down $0.50 at $38.79. Soybeans on China’s Dalian Exchange were down 0.95% while soybean meal was down 0.03%.