DTN Early Word Grains 12/06 05:56
Grains Lower, Treasury Yields Drop Early Monday
March corn was down 4 cents, January soybeans were down 7 1/2 cents and
March KC wheat was down 4 1/4 cents.
DTN Lead Analyst
Pre-6 a.m. Globex Prices: March corn was down 4 cents, January soybeans were
down 7 1/2 cents and March KC wheat was down 4 1/4 cents.
CME Globex Recap: Early Monday, Dow Jones futures and European stocks are
off to a higher start with the yield on 10-year Treasury notes at 1.34%, its
lowest level in two months. There are no significant reports anticipated Monday
and investor concerns over the omicron variant appear to be easing. On Tuesday,
the monthly trade deficit will get trader attention, along with a report on
third-quarter productivity and labor costs. Russian troops along the Ukrainian
border have raised many eyebrows, but wheat prices are not panicking yet.
OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average down 59.71 at 34,580.08 and the S&P 500 down 38.67 at 4,538.43 as the
10-Year Treasury yield ended at 1.45%. Early Tuesday, December Dow Jones
futures are trading up 165 points with the Treasury yield at its lowest level
in two months. Asian markets are a little lower with Japan's Nikkei 225 index
down 0.36% and China's Shanghai Composite Index down 0.50%. European markets
are moderately higher with the spot futures of the London FTSE 100 trading up
0.80%, spot futures of Germany's DAX trading up 0.50% and spot futures of
France's CAC Index trading up 0.47%. The December euro is down $0.0009 at
$1.1305. The December U.S. Dollar Index is up 0.08 at 96.20. The March 30-year
T-bond is down 7/8nds, while February gold is down $3.20 at $1,780.70 and
January crude oil is up $1.57 at $67.83. On China's Dalian exchange, January
corn was down 0.8%, January soybeans were up 1.1%, January soybean meal was up
0.3% and January soybean oil was up 2.8%. September common wheat on China's
Zhengzhou exchange was unchanged. February Malaysian palm oil is trading up
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