Pre-6 a.m. CDT prices, CME Globex: December corn is down 3 1/4 cents per bushel, November soybeans are down 3 cents, and December KC wheat is down 3 1/2 cents.
CME Globex Recap: Grain markets are weaker across the board early Friday morning as early gains in the overnight session are relinquished. This should be a big harvest weekend across the Midwest which could bring with it plenty of pre-hedging before final settlements.
Equity markets are weaker overnight with U.S. futures looking to close the week on a lower note. Energy futures are higher overnight with crude oil solidly back above the $73.00 mark heading into the weekend. The U.S. Dollar Index is firmer, holding together after the big reversal posted Thursday. Metals markets are mostly firmer with gold and copper higher while silver paces with small losses.
OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average up 506.50 at 34,764.82 and the S&P 500 up 53.34 at 4,395.64 while the 10-Year Treasury yield ended at 1.41%. Early Friday, the December DJIA futures are down 97 points.
Asian markets are mixed with Japan’s Nikkei 225 up 609.41 (2.06%) and China’s Shanghai Composite down 29.15 points (-0.8%). European markets are lower with London’s FTSE 100 down 14.59 points (-0.21%), Germany’s DAX down 109.91 points (-0.7%) and France’s CAC 40 down 59.86 points (-0.89%).
The December Euro is down 0.001 at 1.180 and the December U.S. dollar index is up 0.130 at 93.160. The December 30-Year T-Bond is up 1/32nds, while December gold is up $6.80 at $1,756.60 and November crude oil is up $0.05 at $73.35.
Soybeans on China’s Dalian Exchange were up 1.67% while soybean meal was up 0.58%.