DTN Grain Open: Mixed to Begin Big Harvest Week

    Soybean harvest. ©Debra L Ferguson

    December corn is up 3/4 cent per bushel, November soybeans are down 2 cents, and December KC wheat is up 1 1/2 cents.

    CME GLOBEX RECAP: Grains were mixed to higher with corn, wheat and soybean oil posting gains while soybeans and meal trade weaker. Harvest reports, export activity and outside markets should help drive price action this week.

    Equity markets are weaker around the globe overnight with U.S. futures suggesting a lower open later Monday morning as well. The headline overnight was China’s third quarter GDP rising 4.9% in the third quarter from a year earlier, slowing from the 7.9% growth the previous quarter and lower than the 5.1% expected.

    There seems to be genuine fear the supply chain issues, and the surging energy prices could bring about much slower economic growth heading into 2022.

    Energy prices were stronger overnight with crude making new highs for the move while natural gas is lower but well off the lows of the session. The U.S. Dollar Index was firmer overnight but below recent highs. Metals were mixed overnight with copper higher while gold and silver were lower.

    OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 382.20 at 35,294.76 and the S&P 500 up 33.11 at 4,438.26 while the 10-year Treasury yield ended at 1.576%. Early Monday, the December DJIA futures are down 129 points.

    Asian markets are lower with Japan’s Nikkei 225 down 43.17 (0.15%) and China’s Shanghai Composite down 4.23 points (0.12%). European markets are lower with London’s FTSE 100 down 18.78 points (0.26%), Germany’s DAX down 82.41 points (0.53%) and France’s CAC 40 down 52.15 points (0.78%).

    The December euro is down 0.003 at 1.160 and the December U.S. Dollar Index is up 0.217 at 94.155. The December 30-year T-Bond is down 14/32nds, while December gold is down $6.70 at $1,761.60 and November crude oil is up $1.35 at $83.63.

    Soybeans on China’s Dalian Exchange were up 1.32% while soybean meal was down 0.36% and corn was down 0.16%.

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