DTN Grain Open: Row Crops Ease Back From Friday’s Gains

Pre-6 a.m. CDT prices, CME Globex: December corn is down 4 cents, November soybeans are down 2 3/4 cents and December KC wheat is down 2 cents.

CME Globex Recap: Early Monday, Dow Jones futures are trading higher along with higher starts in Europe and Asia. Several media sources reported Kansas City Southern will accept an offer to be purchased by Canadian Pacific, a merger that AP said has fewer competitive concerns than a deal with Canadian National. Heavy rains are expected in southern Louisiana the next five days where 100,000 remain without power in the aftermath of Hurricane Ida.

OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 271.66 at 34,607.72 and the S&P 500 down 34.70 at 4,458.58 as the 10-Year Treasury yield ended at 1.30%. Early Monday, September Dow Jones futures are trading up 200 points.

Asian markets are a little higher with Japan’s Nikkei 225 index up 0.22% and China’s Shanghai Composite Index up 0.33%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.50%, spot futures of Germany’s DAX trading up 0.78% and spot futures of France’s CAC Index trading up 0.50%.

The December euro is down $0.0027 at $1.1789. The December U.S. Dollar Index is up 0.20 at 92.79. The December 30-year T-bond is up 6/32nds, while December gold is down $1.20 at $1,790.90 and October crude oil is up $0.71 at $70.43.

On China’s Dalian exchange, January corn was up 0.5%, November soybeans were up 1.2%, January soybean meal was up 1.4% and January soybean oil was down 0.6%. September common wheat on China’s Zhengzhou exchange was up 5.0%. November Malaysian palm oil is trading up 0.9%.

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