DTN Grain Open: Mostly Lower Early, KC Wheat Firm

    Photo: University of Arkansas

    March corn is down 3 cents, January soybeans are down 7 1/2 cents and March KC wheat is up 3 cents.

    CME Globex Recap: Early Monday, Dow Jones futures are trading a little higher, while European stocks are lower. U.S. stocks were initially higher after news broke Monday that Jerome Powell would stay on as Federal Reserve Chairman, but gains were trimmed back by the close.

    Crude oil is trading lower early Tuesday after Reuters news reported comments, saying some are expecting the U.S. to release reserves in concert with several other countries Tuesday.

    OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average up 17.27 at 35,619.25 and the S&P 500 down 15.02 at 4,682.94 as the 10-year Treasury yield increased to 1.62%. Early Tuesday, December Dow Jones futures are trading up 10 points.

    Asian markets are higher with Japan’s Nikkei 225 index up 0.09% and China’s Shanghai Composite Index up 0.20%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.34%, spot futures of Germany’s DAX trading down 1.02% and spot futures of France’s CAC Index trading down 0.62%.

    The December euro is up $0.0032 at $1.1268. The December U.S. Dollar Index is down 0.16 at 96.38. The December 30-year T-bond is down 3/32nds, while December gold is down $8.30 at $1,798.0 and January crude oil is down $1.11 at $75.64.

    On China’s Dalian exchange, January corn was down 0.9%, January soybeans were up 1.1%, January soybean meal was up 1.2% and January soybean oil was down 0.0%. September common wheat on China’s Zhengzhou exchange was unchanged. February Malaysian palm oil is trading down 2.2%.

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