DTN Early Word Grains 10/15 05:49
Softer Tone as Prices Consolidate, Harvest Progress Eyed
December corn was down 1 3/4, November soybeans were down 2 3/4, and
December MPLS wheat was down 1 1/4.
DTN Contributing Analyst
6:00 a.m. CME Globex: December corn was down 1 3/4, November soybeans were
down 2 3/4, and December MPLS wheat was down 1 1/4.
CME Globex Recap: Global equities are weaker as the combination of trade
war fears and potential retaliation toward Saudi Arabia on the missing
journalist keep investors nervous. Fears Saudi Arabia could use oil prices as
an economic weapon supported energy markets overnight. Weaker grain markets to
start the week with expectations for harvest to resume in a big way by the end
of the week.
OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average up 287.16 points at 25,339.99 and the S&P 500 up 38.76 points at
2,767.13 while the 10-year Treasury yield ended at 3.167%. Early Monday, DJIA
futures were down 121.00. Asian markets were lower with Japan's Nikkei 225 down
423.36 points (-1.87%) and China's Shanghai Composite was down 38.81 points
(-1.49%). European markets are lower with London's FTSE 100 down 23.70 points
(-0.34%), Germany's DAX down 7.89 points (-0.07%), and France's CAC 40 down
21.66 points (-0.43%). The euro was down 0.00095 at 1.15865 and the U.S. dollar
index was up 0.00180 at 95.0780. September 30-year T-Bonds were down 9/32nds
while December gold was up $14.10 at $1236.10 and November crude oil was up
$0.40 at $71.74. Soybeans on China's Dalian Exchange closed down 0.19% and
soymeal closed down 0.75%.
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