DTN Grain Open: Lower in Early Trade

    ©Debra L Ferguson Stock Photography

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

    CME GLOBEX RECAP: Early Friday, Dow Jones futures are trading lower, in line with Europe. Thursday’s report of U.S. jobless claims were slightly lower at 268,000, the smallest number since March of 2020. Earnings report have also been largely favorable lately but rising new Covid cases are a concern in Europe and are starting to tick higher in the U.S. USDA’s monthly cattle on-feed report is due out at 2 p.m. CST Friday.

    OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 60.10 at 35,870.95 and the S&P 500 up 15.87 at 4,704.54 as the 10-Year Treasury yield was closed at 1.59%. Early Friday, December Dow Jones futures are trading down 212 points.

    Asian markets are higher with Japan’s Nikkei 225 index up 0.50% and China’s Shanghai Composite Index up 1.13%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.26%, spot futures of Germany’s DAX trading down 0.38% and spot futures of France’s CAC Index trading down 0.59%.

    The December euro is down $0.0086 at $1.1290. The December U.S. Dollar Index is up 0.53 at 96.07. The December 30-year T-bond is up 20/32nds, while December gold is up $2.90 at $1,864.30 and December crude oil is down $1.39 at $77.62.

    On China’s Dalian exchange, January corn was up 0.6%, January soybeans were up 1.1%, January soybean meal was up 0.1% and January soybean oil was up 0.6%. September common wheat on China’s Zhengzhou exchange was unchanged. January Malaysian palm oil is trading down 0.3%.

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