DTN Grain Open: Stabilizing After Thanksgiving

Windrow formation for burning in a wheat field highly infested with Italian ryegrass in Arkansas. Photo credit: Lauren Lazaro. Louisiana State University

Corn is called steady to up 1-2 cents, soybeans are steady to up 2-3 cents and wheat is called steady to up 1-2 cents.

Pre-6 a.m. Globex Prices:

Corn is called steady to up 1-2 cents, soybeans are steady to up 2-3 cents and wheat is called steady to up 1-2 cents.

CME Globex Recap:

Outside market financials are mixed Friday morning with equity markets mostly firmer while energy markets and the U.S. Dollar Index is weaker. Overnight, the U.S. Dollar Index has slipped near 2 1/2-year lows, supporting commodities priced in dollars. Activity in grains is expected to be quiet Friday, driving by the most recent South American weather maps as U.S. demand remains solid. Buyers appear ready to show up on any serious corrections as corn and soybean ending stocks sit at multi-year lows.

OUTSIDE MARKETS:

Previous closes on Wednesday showed the Dow Jones Industrial Average down 173.77 at 29,872.47 and the S&P 500 down 5.76 at 3,635.41 while the 10-Year Treasury yield ended at 0.878%. Early Friday, the December DJIA futures are up 57 points. Asian markets are higher with Japan’s Nikkei 225 up 107.4 (0.4%) and China’s Shanghai Composite up 38.57 points (1.14%).

European markets are higher with London’s FTSE 100 down 24.77 points (-0.39%), Germany’s DAX up 38.81 points (0.29%) and France’s CAC 40 up 25.4 points (0.46%). The December Euro is up 0.001 at 1.190 and the December U.S. dollar index is down 0.026 at 91.940. The December 30-Year T-Bond is up 17/32nds, while December gold is down $0.30 at $1,805.20 and January crude oil is down $0.36 at $45.35. Soybeans on China’s Dalian Exchange were down 0.37% while soybean meal was down 0.06%.

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