DTN Early Word Grains 12/05 05:57
Crop Prices Higher With Crude Oil as China Eases COVID Restrictions
March corn was up 1 cent, January soybeans were up 6 cents and March KC
wheat was up 4 cents.
DTN Lead Analyst
PRE-6 AM GLOBEX PRICES: March corn was up 1 cent, January soybeans were up 6
cents and March KC wheat was up 4 cents.
CME GLOBEX RECAP: Early Monday, stock futures in the U.S. were trading lower
with mixed to mostly lower trade in Europe. China's yuan and China's stock
market are both trading higher as the Wall Street Journal reported Chinese
authorities are easing COVID restrictions in response to last week's protests.
OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average up 34.87 at 34,429.88 and the S&P 500 down 4.87 at 4,071.70, while the
10-Year Treasury yield fell to 3.51%, the lowest yield in over two months.
Early Friday, March Dow Jones futures are trading down 146 points. Asian
markets are higher with Japan's Nikkei 225 index up 0.15% and China's Shanghai
Composite Index up 1.76%. European markets are mostly lower with the spot
futures of the London FTSE 100 trading up 0.15%, spot futures of Germany's DAX
trading down 0.34% and spot futures of France's CAC Index trading down 0.13%.
The December euro is up $0.0018 at $1.0566. The December U.S. Dollar Index is
down 0.05 at 104.46. The March 30-year T-bond is down 4/32nds, while February
gold is up $0.10 at $1,809.70 and January crude oil is up $1.94 at $81.92. On
China's Dalian exchange, January corn was down 0.3%, January soybeans were down
0.4%, January soybean meal was down 0.5% and January soybean oil was down 0.3%.
February Malaysian palm oil is trading up 0.3%.
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