DTN Early Word Grains 10/06 05:50
Crop Prices Lower With Rain in Wheat's Forecast
December corn was down 2 cents, November soybeans were down 10 cents and
December KC wheat was down 7 cents.
DTN Lead Analyst
EARLY GLOBEX PRICES: December corn was down 2 cents, November soybeans were
down 10 cents and December KC wheat was down 7 cents.
CME GLOBEX RECAP: Early Thursday, stock futures in the U.S. were starting
lower, still not free from concerns about higher interest rates, especially
after OPEC+ cut its production target for November by 2 million barrels per day
on Wednesday. The move has drawn criticism from the West and CNBC.com reported
President Joe Biden is consulting with Congress on ways to retaliate against
OPEC's hostile move. USDA's weekly export sales report and U.S. jobless claims
are due out at 7:30 a.m. CDT Thursday, followed by natural gas storage at 9:30
OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average down 42.45 at 30,273.87 and the S&P 500 down 7.65 at 3,783.28, while
the 10-Year Treasury yield increased to 3.76%, down from the highest yield in
12 years. Early Thursday, December Dow Jones futures are trading down 172
points. Asian markets are higher with Japan's Nikkei 225 index up 0.70%.
European markets are mixed with the spot futures of the London FTSE 100 trading
down 0.01%, spot futures of Germany's DAX trading up 0.30% and spot futures of
France's CAC Index trading up 0.06%. The December euro is down $0.0014 at
$.9933. The December U.S. Dollar Index is up 0.21 at 111.22. The December
30-year T-bond is up 2/32nds, while December gold is up $3.90 at $1,724.70 and
November crude oil is down $0.05 at $87.71. December Malaysian palm oil is
trading up 2.3%. There are no quotes from China's Dalian exchange or stock
market this week due to a national holiday.
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