DTN Grain Open: Lower Amid Commodity Weakness

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    Pre-6 a.m. CDT prices, CME Globex: December corn is down 1 3/4 cents, November soybeans are down 5 1/2 cents and December KC wheat is down 2 1/2 cents.

    CME GLOBEX RECAP: Early Wednesday, Dow Jones futures are slightly lower, in line with overseas markets as big earnings reports continue to roll in. Alphabet, Microsoft, UPS and VISA were some of the companies showing favorable results Tuesday. A report on durable goods orders is due out at 7:30 a.m. CDT and crude oil is trading lower early, ahead of the Energy Department’s 9:30 a.m. report on weekly inventories.

    OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 15.73 at 35,756.88 and the S&P 500 up 8.31 at 4,574.79 as the 10-Year Treasury yield ended at 1.62%. Early Wednesday, December Dow Jones futures are trading down 5 points.

    Asian markets are lower with Japan’s Nikkei 225 index down 0.03% and China’s Shanghai Composite Index down 0.98%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.40%, spot futures of Germany’s DAX trading down 0.59% and spot futures of France’s CAC Index trading down 0.43%.

    The December euro is down $0.0005 at $1.1603. The December U.S. Dollar Index is up 0.01 at 93.95. The December 30-year T-bond is up 18/32nds, while December gold is down $4.70 at $1,788.70 and December crude oil is down $1.47 at $83.18.

    On China’s Dalian exchange, January corn was down 0.4%, January soybeans were down 0.7%, January soybean meal was down 0.5% and January soybean oil was down 0.5%. September common wheat on China’s Zhengzhou exchange was unchanged. January Malaysian palm oil is trading down 0.6%.

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