DTN Grain Open: KC Wheat Pushing New Highs

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    Pre-6 a.m. CDT prices, CME Globex: December corn is up 3 1/2 cents, January soybeans are up 1 3/4 cents and March KC wheat is up 24 1/4 cents.

    CME GLOBEX RECAP: Early Monday, Dow Jones futures are trading higher with mostly higher stocks overseas. President Joe Biden is expected to pick a Federal Reserve Chairman by Tuesday. The president may be in a merciful mood after pardoning two national turkeys Friday, but it is not clear if Jerome Powell will keep his job. A report on U.S. existing home sales in October is due out later Monday morning, at 9 a.m. CST.

    OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 268.97 at 35,601.98 and the S&P 500 down 6.58 at 4,697.96 as the 10-Year Treasury yield closed at 1.54%. Early Monday, December Dow Jones futures are trading up 162 points.

    Asian markets are slightly higher with Japan’s Nikkei 225 index up 0.09% and China’s Shanghai Composite Index up 0.61%. European markets are mixed with the spot futures of the London FTSE 100 trading up 0.31%, spot futures of Germany’s DAX trading down 0.09% and spot futures of France’s CAC Index trading up 0.21%.

    The December euro is down $0.0005 at $1.1289. The December U.S. Dollar Index is up 0.07 at 96.10. The December 30-year T-bond is down 17/32nds, while December gold is down $6.40 at $1,845.20 and December crude oil is up $0.22 at $76.16.

    On China’s Dalian exchange, January corn was down 0.4%, January soybeans were down 0.8%, January soybean meal was down 0.6% and January soybean oil was down 1.3%. September common wheat on China’s Zhengzhou exchange was unchanged. February Malaysian palm oil is trading down 0.7%.

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