DTN Early Word Grains 12/17 05:41
Grains Stronger, Chinese Demand Expected to Continue
March corn was up 3/4 cent, January soybeans were up 4 1/4 cents, and March
KC wheat was up 5 1/4 cents.
By Tregg Cronin
DTN Contributing Analyst
6:00 a.m. CME Globex: March corn was up 3/4 cent, January soybeans were up 4
1/4 cents, and March KC wheat was up 5 1/4 cents.
CME Globex Recap: Trade war developments were relatively muted over the
weekend, allowing financial markets to put forth a quiet overnight session
around the globe. Ag markets are starting the week off on a higher note as
market participants ready for Chinese purchases of all U.S. grains. Whether
China buys anything besides soybeans remains to be seen but it is certainly
stoking enthusiasm Monday.
OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average down 496.87 at 24,100.51, the S&P 500 down 50.59 at 2,599.95 while the
10-yr Treasury yield ended at 2.897%. Early Monday, DJIA futures are up 12.00.
Asian markets were higher with Japan's Nikkei 225 up 132.05 points (0.62%) and
China's Shanghai Composite was up 4.23 points (0.16%). European markets are
lower with London's FTSE 100 down 11.55 points (-0.17%), Germany's DAX down
0.50 points (0.00%), and France's CAC 40 down 21.63 points (-0.47%). The euro
was up 0.00310 at 1.13355 and the U.S. dollar index was down 0.1890 at 97.2340.
December 30-year T-Bonds were unchanged, February gold was up $2.00 at $1243.40
and February crude oil was up $0.40 at $51.87. Soybeans on China's Dalian
Exchange closed up 0.70% and soymeal closed up 0.45%.
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