DTN Grain Open: Mixed Ahead of Holiday

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    December corn is down 1/4 cent per bushel, January soybeans are up 2 3/4 cents, and March KC wheat is up 3 1/2 cents.

    CME Globex Recap: Grains are mixed overnight with gains in the soy complex and winter wheat while corn, Chicago and Minneapolis are slightly lower. Trade could be lighter volume the balance of the week with the Thanksgiving holiday Thursday and the shortened session Friday. December option expiration is Friday afternoon.

    Equity markets were mixed to weaker around the globe overnight with U.S. futures tipped lower Wednesday morning. Energy markets remain front and center with the jawboning by the Biden administration as well as the coordinated crude oil releases from strategic reserves by several major importers.

    The release by the United States shouldn’t amount to much in the grand scheme of things, especially if OPEC+ follows through with threats to forgo planned increases in production as retaliation. The U.S. Dollar Index is making new 18-month highs overnight with trends decidedly higher. Metals are firmer across the board overnight with gains led by copper up 0.90%.

    OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 194.55 at 35,813.80 and the S&P 500 up 7.76 at 4,682.94 while the 10-year Treasury yield ended at 1.667%. Early Wednesday, the December DJIA futures are down 114 points.

    Asian markets are mixed with Japan’s Nikkei 225 down 471.45 (1.58%) and China’s Shanghai Composite up 3.61 points (0.1%). European markets are mixed with London’s FTSE 100 up 4.88 points (0.07%), Germany’s DAX down 50.89 points (0.32%) and France’s CAC 40 down 12.11 points (0.17%).

    The December euro is down 0.003 at 1.120 and the December U.S. Dollar Index is up 0.226 at 96.720. The December 30-year T-Bond is up 11/32nds, while December gold is up $6.90 at $1,790.70 and January crude oil is down $0.05 at $78.45.

    Soybeans on China’s Dalian Exchange were down 0.47% while soybean meal was up 0.06% and corn was down 0.90%.

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