DTN Early Word Grains 12/07 05:49
Soybeans, U.S. Wheats Start Higher Early Wednesday
March corn was down 1 cent, January soybeans were up 6 cents and March KC
wheat was up 6 cents.
DTN Lead Analyst
PRE-6 AM GLOBEX PRICES: March corn was down 1 cent, January soybeans were up
6 cents and March KC wheat was up 6 cents.
CME GLOBEX RECAP: Early Wednesday, stock futures in the U.S. were trading
lower, in line with lower stock prices in Europe and Asia. The anticipation of
slower economic growth ahead continues to keep traders cautious ahead of next
week's Federal Reserve meeting. According to CNBC.com, Campbell Soup is among
Wednesday's earnings reports. The U.S. Energy Department's weekly inventory
report is set for 9:30 a.m. CST and includes the latest week of ethanol
production. Wednesday is the 81st anniversary of the attack on Pearl Harbor.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average down 350.76 at 33,596.34 and the S&P 500 down 57.58 at 3,941.26, while
the 10-Year Treasury yield fell to 3.51%, near the lowest yield in over two
months. Early Wednesday, March Dow Jones futures are trading down 52 points.
Asian markets are lower with Japan's Nikkei 225 index down 0.72% and China's
Shanghai Composite Index down 0.40%. European markets are lower with the spot
futures of the London FTSE 100 trading down 0.22%, spot futures of Germany's
DAX trading down 0.40% and spot futures of France's CAC Index trading down
0.34%. The December euro is up $0.0012 at $1.0486. The December U.S. Dollar
Index is up 0.02 at 105.57. The March 30-year T-bond is down 5/32nds, while
February gold is up $2.20 at $1,784.60 and January crude oil is down $1.21 at
$73.04. On China's Dalian exchange, January corn was down 0.2%, January
soybeans were up 0.3%, January soybean meal was up 0.6% and January soybean oil
was slightly lower. February Malaysian palm oil is trading down 3.1%.