DTN Early Word Grains 11/15 05:49
Soy Complex Leads Grains Higher on Trade Optimism
December corn was up 2 cents, November soybeans were up 11 cents, and
December KC wheat was up 2 cents.
DTN Contributing Analyst
Pre-5:00 a.m. CME Globex: December corn was up 2 cents, November soybeans
were up 11 cents, and December KC wheat was up 2 cents.
CME Globex Recap: Trade drives the bus, and for Thursday at least, a deal
between China and the U.S. looks closer than it did Wednesday. A relief rally
across most asset classes would be expected on a formal announcement. After
closing higher yesterday, crude oil is now working on its 13th lower close in
the last 14 sessions. Soybeans leading the grain room higher overnight on trade
optimism although nothing concrete announced yet.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial
Average down 205.99 points at 25,080.50 and the S&P 500 down 20.60 points at
2,701.58 while the 10-year Treasury yield ended at 3.127%. Early Thursday, DJIA
futures are down up 54.00. Asian markets were mixed with Japan's Nikkei 225
down 42.86 points (-0.20%) and China's Shanghai Composite was up 35.93 points
(1.36%). European markets are mixed with London's FTSE 100 up 4.91 points
(0.07%), Germany's DAX down 11.85 points (-0.10%), and France's CAC 40 down
19.35 points (-0.38%). The euro was up $0.00470 at $1.12950 and the U.S. Dollar
Index was up 0.3290 at 97.3030. September 30-year T-Bonds were up 9/32nds while
December gold was up $0.70 at $1210.80 and December crude oil was down $0.43 at
$55.82. Soybeans on China's Dalian Exchange closed down 0.46% and soymeal
closed down 0.84%.
Get your local Cash Bids emailed to you each morning from DTN – click here
to sign up for DTN Snapshot.