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DTN Early Word Grains 12/04 05:44
Grain Markets Mostly Lower Monday Morning, Led by Soybeans Reacting to Wet
South American Forecasts
EARLY MORNING GLOBEX NET CHANGES: March corn is down 1 1/2 cents per bushel,
January soybeans are down 9 cents, March KC wheat is up 1/4 cent, March Chicago
wheat is up 2 1/2 cents and March Minneapolis wheat is down 2 1/2 cents.
By Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: March corn is down 1 1/2 cents per bushel,
January soybeans are down 9 cents, March KC wheat is up 1/4 cent, March Chicago
wheat is up 2 1/2 cents and March Minneapolis wheat is down 2 1/2 cents.
CME GLOBEX RECAP: U.S. equity markets are lower Monday morning amidst an
escalation of Middle East hostilities, including an attack on a U.S. Naval
Vessel in the Red Sea and other commercial ships in that area. Traders are also
considering Friday's comments from Fed Chairman Jerome Powell, which tried to
walk back the idea that rate cuts would be occurring in the first half of 2024.
Finally, traders are monitoring COP28, the meeting of world leaders on climate
change, for indications of policies that would come with economic impacts.
OUTSIDE MARKETS: Previous close Friday showed the Dow Jones Industrial
Average up 294.61 at 36,245.50 and the S&P 500 up 26.83 at 4,594.63, The
10-Year Treasury yield ended at 4.23%. Early Monday, December Dow Jones futures
are down 63 points. European markets are mixed with the spot futures of
London's FTSE 100 trading down 0.38%, spot futures of Germany's DAX trading up
0.19% and the spot futures of France's CAC 40 Index down 0.05%. Asian markets
are lower with Japan's Nikkei 225 Index down 0.6% and China's Shanghai
Composite Index down 0.29%.
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