DTN Early Word Grains 11/27 06:00
Grains Expected to Stabilize After Thanksgiving Break
Corn is called steady to up 1-2 cents, soybeans are steady to up 2-3 cents
and wheat is called steady to up 1-2 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: Corn is called steady to up 1-2 cents, soybeans
are steady to up 2-3 cents and wheat is called steady to up 1-2 cents.
CME Globex Recap: Outside market financials are mixed Friday morning with
equity markets mostly firmer while energy markets and the U.S. Dollar Index is
weaker. Overnight, the U.S. Dollar Index has slipped near 2 1/2-year lows,
supporting commodities priced in dollars. Activity in grains is expected to be
quiet Friday, driving by the most recent South American weather maps as U.S.
demand remains solid. Buyers appear ready to show up on any serious corrections
as corn and soybean ending stocks sit at multi-year lows.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones
Industrial Average down 173.77 at 29,872.47 and the S&P 500 down 5.76 at
3,635.41 while the 10-Year Treasury yield ended at 0.878%. Early Friday, the
December DJIA futures are up 57 points. Asian markets are higher with Japan's
Nikkei 225 up 107.4 (0.4%) and China's Shanghai Composite up 38.57 points
(1.14%). European markets are higher with London's FTSE 100 down 24.77 points
(-0.39%), Germany's DAX up 38.81 points (0.29%) and France's CAC 40 up 25.4
points (0.46%). The December Euro is up 0.001 at 1.190 and the December U.S.
dollar index is down 0.026 at 91.940. The December 30-Year T-Bond is up
17/32nds, while December gold is down $0.30 at $1,805.20 and January crude oil
is down $0.36 at $45.35. Soybeans on China's Dalian Exchange were down 0.37%
while soybean meal was down 0.06%.
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