DTN Early Word Grains: Soy Complex Slightly Firmer Early on Friday; Wheat Mixed to Weaker

 

December corn is up 1 3/4 cents, November soybeans are up 3 cents and Kansas City December wheat is 1 1/2 cents higher.

Dana Mantini Senior Market Analyst

Pre-6 a.m. CDT prices, CME Globex: December corn is up 1 3/4 cents, November soybeans are up 3 cents and Kansas City December wheat is 1 1/2 cents higher.

CME Globex Recap:

Early on Friday, Dow Jones futures are higher, with European markets all higher, and Asian markets higher. The bond market is higher. Grains and soybeans are slightly higher, except for Minneapolis wheat. Warm and mostly dry weather lies ahead for the advancing harvest. All eyes will be on Friday’s September WASDE report, which should add to volatility.

OUTSIDE MARKETS:

Previous closes on Thursday showed the Dow Jones Industrial Average down 151.69 at 34,879.38 and the S&P 500 down 20.79 at 4,493.28 while the 10-year Treasury yield ended at 1.299%. Early Friday, the September DJIA futures are up 170 points. Asian markets are higher with Japan’s Nikkei 225 up 368.54 (1.23%) and China’s Shanghai Composite up 17.94 points (0.49%). European markets are higher with London’s FTSE 100 up 28.52 points (0.40%), Germany’s DAX up 72.84 points (0.47%) and France’s CAC 40 up 37.65 points (0.57%). The September Euro is up 0.002 at 1.180 and the September U.S. Dollar Index is down 0.115 at 92.365. The September 30-year T-Bond is down 18/32nd, while December gold is up $2.30 at $1,802.30 and October crude oil is up $0.98 at $69.12. Soybeans on China’s Dalian Exchange were up 0.91% while soybean meal was down 0.88%.




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