DTN Early Word Grains 11/30 05:57
Grains Mixed to Close Out November
March corn is up 2 cents per bushel, January soybeans are down 5 3/4 cents,
and March KC wheat is down 5 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: March corn is up 2 cents per bushel, January
soybeans are down 5 3/4 cents, and March KC wheat is down 5 cents.
CME Globex Recap: Mixed to weaker equity trade overnight with U.S. futures
suggesting a lower open Monday morning. The past two Monday's have witnessed
positive vaccine news boost equity trade early in the week, although we doubt
the market will go three for three. That said, equity markets are on an
impressive run with the month of November likely to feature several records for
a monthly gain. Energy markets are softer overnight with crude and products
down near 2.0%. The U.S. Dollar Index is breaking to fresh 2 1/2-year lows,
which should support the overall commodity sector. Grains are mixed overnight
with corn hanging on to gains while the soy complex and wheat trade weaker.
South American forecasts and weekly demand from China should remain the focus
this week as the slower pace of trade from Thanksgiving to Christmas sets in.
OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average up 37.90 at 29,910.37 and the S&P 500 up 8.70 at 3,629.65 while the
10-Year Treasury yield ended at 0.842%. Early Monday, the December DJIA futures
are down 161 points. Asian markets are lower with Japan's Nikkei 225 down
211.09 (-0.79%) and China's Shanghai Composite down 16.55 points (-0.49%).
European markets are mixed with London's FTSE 100 up 13.86 points (0.22%),
Germany's DAX up 25.03 points (0.19%) and France's CAC 40 down 13.26 points
(-0.24%). The December Euro is up 0.003 at 1.200 and the December U.S. dollar
index is down 0.161 at 91.640. The December 30-Year T-Bond is up 2/32nds, while
December gold is down $13.60 at $1,768.30 and January crude oil is down $0.82
at $44.71. Soybeans on China's Dalian Exchange were up 0.19% while soybean meal
was up 0.06% and corn was up 0.74%.
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