Pre-6 a.m. CDT prices, CME Globex: December corn is up 1/2 cent per bushel, January soybeans are up 6 3/4 cents, and December KC wheat is up 3 cents.
CME GLOBEX RECAP: Grain markets are higher across the board overnight with gains led by soybean oil as most contracts post 0.9-1.0% gains.
Quiet, mixed trade in equities overnight with U.S. futures slightly lower early Wednesday morning. Additional earnings from large retailers are due out before the bell. Generally, earnings have been strong this quarter, and expectations are for a strong holiday shopping period despite weak readings in consumer sentiment.
Energy markets are weaker overnight with crude and products down over 1.0%. Crude oil continues to oscillate on either side of $80.00 per barrel. The U.S. Dollar Index is higher but well-off overnight highs, looking to close up for the fifth session out of the last six. Precious metals are firmer overnight while copper is weaker.
OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 54.77 at 36,142.22 and the S&P 500 up 18.10 at 4,682.80 while the 10-Year Treasury yield ended at 1.634%. Early Wednesday, the December DJIA futures are down 16 points.
Asian markets are mixed with Japan’s Nikkei 225 down 119.79 (-0.4%) and China’s Shanghai Composite up 15.58 points (0.44%). European markets are mixed with London’s FTSE 100 down 20.15 points (-0.28%), Germany’s DAX up 15.38 points (0.09%) and France’s CAC 40 up 8.81 points (0.12%).
The December Euro is down 0.000 at 1.130 and the December U.S. dollar index is up 0.014 at 95.925. The December 30-Year T-Bond is down 2/32nds, while December gold is up $9.50 at $1,863.60 and December crude oil is down $0.99 at $79.77.
Soybeans on China’s Dalian Exchange were down 0.17% while soybean meal was up 0.06% and corn was up 0.34%.