Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
 
 
DTN Early Word Grains         01/20 05:56
   Sharply Lower Grains at Mid-Week

   March corn is down 11 1/2 cents per bushel, March soybeans are down 27 1/2
cents, and March KC wheat is down 7 cents.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices: March corn is down 11 1/2 cents per bushel, March
soybeans are down 27 1/2 cents, and March KC wheat is down 7 cents.

   CME Globex Recap: Global equity markets are steady to higher with all eyes
on Washington D.C. ahead of President-elect Biden's inauguration. The table has
been set this week for another massive round of fiscal stimulus which should
keep Wall Street happy for the time being. This seems to be offsetting the news
deaths from the coronavirus in the United States surpassed 400,000 on Tuesday
as the vaccination program remains slow. Energy markets are firmer overnight
with spot crude oil comfortably over $53.00 per barrel. The U.S. Dollar Index
continues to hover just above the 90.00-handle area despite the calls for
massive deficit spending. Many have pointed out how overcrowded the short side
of the U.S. Dollar market has become. Grain markets are sharply lower overnight
with losses being led by corn, soybeans and soy meal as wetter South American
forecasts trip off a needed technical correction. Dalian commodity markets were
also sharply weaker overnight and Paris milling wheat is off over 1.0% as the
selloff stretches around the globe. Based on balance sheet fundamentals, end
user pricing should surface once weak longs have been removed.

   OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial
Average up 116.26 at 30,930.52 and the S&P 500 up 30.66 at 3,768.25 while the
10-Year Treasury yield ended at 1.092%. Early Wednesday, the March DJIA futures
are up 61 points. Asian markets are mixed with Japan's Nikkei 225 down 110.2
(-0.38%) and China's Shanghai Composite up 16.71 points (0.47%). European
markets are higher with London's FTSE 100 up 20.67 points (0.31%), Germany's
DAX up 87.75 points (0.64%) and France's CAC 40 up 37.67 points (0.67%). The
March Euro is down 0.001 at 1.210 and the March U.S. dollar index is down 0.041
at 90.435. The March 30-Year T-Bond is down 4/32nds, while February gold is up
$11.30 at $1,851.50 and February crude oil is up $0.52 at $53.50. Soybeans on
China's Dalian Exchange were down 2.39% while soybean meal was down 2.89% and
corn down 0.94%.
Get your local Cash Bids emailed to you each morning from DTN – click here to sign up for DTN Snapshot.
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN