DTN Early Word Grains 12/06 05:51
Row Crops Find Early Support Tuesday
March corn was up 3 cents, January soybeans were up 11 cents and March KC
wheat was down 1 cent.
DTN Lead Analyst
PRE-6 AM GLOBEX PRICES: March corn was up 3 cents, January soybeans were up
11 cents and March KC wheat was down 1 cent.
CME GLOBEX RECAP: Early Tuesday, stock futures in the U.S. were trading
slightly higher with quiet markets overnight in Europe and Asia. Expectations
for another rate hike from the Federal Reserve next week are keeping traders
cautious. CNBC.com reports more Russian missile attacks on southern Ukraine
Monday and what appears to be some success from possible Ukrainian strikes on
air bases in Russian territory, not far from Moscow on Tuesday. The U.S. Census
Bureau will report on the trade deficit for October at 7:30 a.m. CST, followed
later Tuesday morning by more specific trade data from USDA.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial
Average down 482.78 at 33,947.10 and the S&P 500 down 72.86 at 3,998.84, while
the 10-Year Treasury yield fell to 3.60%, up from the lowest yield in over two
months. Early Tuesday, March Dow Jones futures are trading up 46 points. Asian
markets are a little higher with Japan's Nikkei 225 index up 0.24% and China's
Shanghai Composite Index up 0.02%. European markets are lower with the spot
futures of the London FTSE 100 trading down 0.20%, spot futures of Germany's
DAX trading down 0.23% and spot futures of France's CAC Index trading down
0.13%. The December euro is up $0.0015 at $1.0520. The December U.S. Dollar
Index is down 0.13 at 105.11. The March 30-year T-bond is up 12/32nds, while
February gold is up $7.10 at $1,788.40 and January crude oil is down $0.85 at
$76.08. On China's Dalian exchange, January corn was down 0.5%, January
soybeans were down 0.1%, January soybean meal was down 0.1% and January soybean
oil was down 0.2%. February Malaysian palm oil is trading up 3.2%.
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