DTN Early Word Grains 12/01 07:19
U.S. Stocks, Commodities Generally Higher Early Wednesday
March corn was up 5 cents, January soybeans were up 10 cents and March KC
wheat was up 7 cents.
DTN Lead Analyst
Pre-6 a.m. Globex Prices: March corn was up 5 cents, January soybeans were
up 10 cents and March KC wheat was up 7 cents.
CME Globex Recap: Early Wednesday, Dow Jones futures and European stocks are
trading higher, a small roller coaster ride as investors continue to adjust to
the recent threat of the omicron variant on scant information. Federal Reserve
Chairman Jerome Powell told the Senate Banking Committee the economy is strong
and the Fed will discuss ending bond purchases in December. OPEC is set to meet
Wednesday and Thursday and may consider withholding planned increases in
production in January, given the new variant threat.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average down 652.22 at 34,483.72 and the S&P 500 down 88.27 at 4,567.00 as the
10-Year Treasury yield dropped to 1.44%. Early Wednesday, December Dow Jones
futures are trading up 289 points. Asian markets are higher with Japan's Nikkei
225 index up 0.41% and China's Shanghai Composite Index up 0.36%. European
markets are higher with the spot futures of the London FTSE 100 trading up
1.06%, spot futures of Germany's DAX trading up 1.11% and spot futures of
France's CAC Index trading up 1.24%. The December euro is up $0.0010 at
$1.1337. The December U.S. Dollar Index is down 0.09 at 95.92. The March
30-year T-bond is down 29/32nds, while February gold is up $5.00 at $1,778.60
and January crude oil is up $2.78 at $68.96. On China's Dalian exchange,
January corn was down 0.6%, January soybeans were down 1.1%, January soybean
meal was down 1.0% and January soybean oil was down 1.9%. September common
wheat on China's Zhengzhou exchange was unchanged. February Malaysian palm oil
is trading up 0.3%.
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