DTN Grain Open: Sharply Higher Before Weekend

    The Port of Rosedale - Rosedale, Mississippi - Mississippi River ©Debra L Ferguson Stock Photography

    December corn is up 4 1/4 cents per bushel, November soybeans are up 3 3/4 cents, and December KC wheat is up 13 cents.

    CME Globex Recap: Grain markets were higher across the board with gains led by wheat contracts as Kansas City climbs double digits on the front end.

    Global equity markets were mixed-to-higher overnight with U.S. futures slightly higher following another record close on Thursday in the S&P 500. Financial media outlets reported overnight China Evergrande Group made an overdue interest payment to international bondholders, according to Chinese state-owned media.

    The payment staved off default and may have given investors a little more confidence the entire property market in China is not on the brink of collapse. Energy markets were firmer overnight with crude oil just below the $83.00 level as the uptrend continues. The U.S. Dollar Index was weaker overnight but remains inside the previous day’s range. Metals were firmer overnight led by silver, which was up 1.08%.

    OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 6.26 at 35,603.08 and the S&P 500 up 13.59 at 4,536.19 while the 10-year Treasury yield ended at 1.676%. Early Friday, the December DJIA futures are up 34 points.

    Asian markets are mixed with Japan’s Nikkei 225 up 96.27 (0.34%) and China’s Shanghai Composite is down 12.18 points (0.34%). European markets are higher with London’s FTSE 100 up 31 points (0.43%), Germany’s DAX up 86.62 points (0.56%) and France’s CAC 40 up 61.1 points (0.91%).

    The December euro is up 0.002 at 1.170 and the December U.S. Dollar Index is down 0.163 at 93.595. The December 30-year T-Bond is down 0/32nds, while December gold is up $12.80 at $1,794.70 and December crude oil is up $0.38 at $82.88.

    Soybeans on China’s Dalian Exchange are down 2.33% while soybean meal is down 0.03%.

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