DTN Grain Open: Markets Higher Overnight

    Mature soybean pods ready for harvest. ©Debra L Ferguson

    Pre-6 a.m. CDT prices, CME Globex: December corn is up 6 cents, November soybeans are up 9 1/4 cents and December KC wheat is up 11 3/4 cents.

    CME GLOBEX RECAP: Early Friday, Dow Jones futures are trading higher, in line with higher stock prices in Asia and Europe. According to Wall Street Journal, Thursday’s 1.6% gain in the Dow Jones Industrials was due to strong earnings reports from the financial sector and healthcare companies.

    Thursday’s lower jobless claims total was also an encouraging sign of improvement for the economy. USDA’s weekly report of export sales is due out at 7:30 a.m. CDT.

    OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 534.75 at 34,912.56 and the S&P 500 up 74.46 at 4,438.26 as the 10-Year Treasury yield ended at 1.52%. Early Friday, December Dow Jones futures are trading up 139 points.

    Asian markets are higher with Japan’s Nikkei 225 index up 1.81% and China’s Shanghai Composite Index up 0.40%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.09%, spot futures of Germany’s DAX trading up 0.29% and spot futures of France’s CAC Index trading up 0.33%.

    The December euro is up $0.0008 at $1.1620. The December U.S. Dollar Index is down 0.02 at 93.95. The December 30-year T-bond is down 15/32nds, while December gold is down $14.00 at $1,783.90 and November crude oil is up $0.68 at $81.99.

    On China’s Dalian exchange, January corn was up 0.7%, November soybeans were up 1.2%, January soybean meal was up 0.8% and January soybean oil was up 0.5%. September common wheat on China’s Zhengzhou exchange was unchanged. December Malaysian palm oil is trading up 2.4%.

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