DTN Early Word Grains 12/08 06:05
Ag Markets All Weaker at Midweek
March corn is down 1 3/4 cents per bushel, January soybeans are down 9 3/4
cents, and March KC wheat is down 8 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: March corn is down 1 3/4 cents per bushel, January
soybeans are down 9 3/4 cents, and March KC wheat is down 8 cents.
CME Globex Recap:
Global equity trade was mixed overnight with Asian bourses higher, but
European weaker while U.S. futures trade just below Tuesday's settlements.
Financial media continue to point to optimism about the Omicron coronavirus
strain, especially as no deaths in the United States have yet been attributed
to the new strain. Energy markets are mixed overnight with crude oil weaker,
RBOB and natural gas higher, while heating oil trades a tick lower. The U.S.
Dollar Index is weaker but mostly in a consolidative pattern. Metals are mixed
with gold higher while copper and silver trade lower. Grain markets are all
weaker overnight with losses being led by soybean oil, which follows through on
the sharp selling Tuesday.
Previous closes on Monday showed the Dow Jones Industrial Average up 646.95
at 35,227.03 and the S&P 500 up 53.24 at 4,538.43 while the 10-year Treasury
yield ended at 1.434%. Early Wednesday, the December DJIA futures are down 49
points. Asian markets are higher with Japan's Nikkei 225 up 405.02 (1.42%) and
China's Shanghai Composite up 42.48 points (1.18%). European markets are lower
with London's FTSE 100 up 3.94 points (0.05%), Germany's DAX down 85.65 points
(0.54%) and France's CAC 40 down 24.31 points (0.34%). The December euro is up
0.002 at 1.130 and the December U.S. Dollar Index is down 0.145 at 96.225. The
March 30-year T-Bond is up 23/32nds, while February gold is up $5.50 at
$1,790.20 and January crude oil is down $0.92 at $71.13. Soybeans on China's
Dalian Exchange were down 0.19% while soybean meal was down 0.22% and corn was