| |
DTN Early Word Grains 10/12 05:57
Row-Crop Markets Feel Hangover from Bearish USDA Data
December corn is up 1 1/2 cents per bushel, November soybeans are down 8 1/4
cents, December KC wheat is up 1 cent, December Chicago wheat is up 1 1/4
cents, and MIAX December Minneapolis wheat is up 0.0150 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is up 1 1/2 cents per
bushel, November soybeans are down 8 1/4 cents, December KC wheat is up 1 cent,
December Chicago wheat is up 1 1/4 cents, and MIAX December Minneapolis wheat
is up 0.0150 cents.
CME GLOBEX RECAP: On Friday, December corn dropped 20 1/2 cents, November
soybeans rose 4 1/2 cents, and December KC wheat dropped 17 cents. Corn basis
was steady, while soybean basis was weaker Friday, and soft red winter wheat,
hard red winter wheat, and spring wheat basis were stronger. Overall, Friday's
USDA Crop Production Report's U.S. ending stocks estimates were bearish for
corn, neutral for soybeans, and slightly bearish for wheat. Friday's USDA world
ending stocks estimates were bearish for corn, neutral for soybeans, and
neutral for wheat. With Monday being a federal holiday, no regularly released
government reports will be available until Tuesday.
OUTSIDE MARKETS: Friday's close showed the Dow Jones Industrial Average up
423.31 to 51,654.95 and the S&P 500 up 46.18 to 7,811.54. The 10-Year Treasury
yield ended at 5.244%. Early Monday, the December Dow Jones Futures are up 50
points. European markets are higher, with London's FTSE 100 spot futures up
0.46%, Germany's DAX spot futures up 0.48%, and France's CAC 40 Index spot
futures up 0.12%. Asian markets are lower, with Japan's Nikkei 225 Index down
0.02% and China's Shanghai Composite Index down 0.43%.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up Free today!
|
|
