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DTN Early Word Grains 08/21 07:44
For the Month, Corn is up 8%, Wheat 7%, and Soybeans 4%
December corn is down 3/4 cent per bushel, November soybeans are down 4 3/4
cents, December KC wheat is down 6 1/2 cents, December Chicago wheat is down 1
1/4 cents, and MIAX December Minneapolis wheat is down 0.0450 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is down 3/4 cent per bushel,
November soybeans are down 4 3/4 cents, December KC wheat is down 6 1/2 cents,
December Chicago wheat is down 1 1/4 cents, and MIAX December Minneapolis wheat
is down 0.0450 cents.
CME GLOBEX RECAP: On Thursday, December corn rose 5 1/2 cents, November
soybeans dropped 3/4 of a cent, and September KC wheat rose 2 1/2 cents. Corn
basis was weaker, while soybean, hard red winter wheat, and soft red winter
wheat basis was steady on Thursday, and hard red spring wheat basis was
stronger. Thursday's trade was highlighted by corn, soybean, and wheat markets
hitting year-highs and even multi-year highs. Traders will eye wetter, cooler
weather forecasts for the Midwest as August ends and September begins. After
climbing for five days, crude oil is lower early on Friday, though it is still
on track for a 5% weekly gain. USDA will release a series of reports after the
close, such as the August Cattle on Feed and county Cash Rents reports at 2
p.m. CDT. At 2:30 p.m. CDT, CFTC will close the week with the Commitments of
Traders report.
OUTSIDE MARKETS: The previous close on Thursday showed the Dow Jones
Industrial Average down 703.84 points to 52,759.21 and the S&P 500 down 66.82
points to 7,641.16. The 10-Year Treasury yield ended at 4.696%. Early Friday,
the September Dow Jones Futures are up 177 points. European markets are mixed,
with the spot futures of London's FTSE 100 trading down 0.11%, the spot futures
of Germany's DAX trading up 0.17%, and the spot futures of France's CAC 40
Index trading down 0.01%. Asian markets are lower, with Japan's Nikkei 225
Index down 3.93% and China's Shanghai Composite Index down 0.56%.
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