| |
DTN Early Word Grains 11/09 05:47
Row-Crop Markets Await Tuesday's USDA WASDE Report
December corn is up 2 cents per bushel, January soybeans are up 1 3/4 cents,
December KC wheat is down 3 1/2 cents, December Chicago wheat is down 2 3/4
cents, and MIAX December Minneapolis wheat is down 0.0075 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is up 2 cents per bushel,
January soybeans are up 1 3/4 cents, December KC wheat is down 3 1/2 cents,
December Chicago wheat is down 2 3/4 cents, and MIAX December Minneapolis wheat
is down 0.0075 cents.
CME GLOBEX RECAP: On Friday, December corn rose 1 1/2 cents, January
soybeans rose 5 1/2 cents, and December KC wheat dropped 3 1/4 cents. Soybean
basis was stronger, while hard red winter wheat, corn, and spring wheat basis
were steady Friday, and soft red winter wheat basis was weaker. For the week,
December corn closed down 6 1/4 cents, and March corn was down 5 3/4 cents.
January soybeans closed down 40 1/2 cents, and March soybeans were down 44 1/2
cents. December KC wheat closed down 11 3/4 cents, December Chicago wheat was
down 12 1/4 cents, and December Minneapolis wheat was down 7 3/4 cents. All
eyes will be on Tuesday's USDA Crop Production and World Agricultural Supply
and Demand Estimates. The report is expected to show a cut in the 2026 U.S.
corn yield, a record-large soybean crop, and a cut in wheat exports. Monday
features USDA's usual reports, including Export Inspections (for the week
ending November 5) at 10 a.m. CST, and the weekly Crop Progress report at 3
p.m. CST. Otherwise, traders will likely be positioning ahead of Tuesday's Crop
Production and WASDE reports.
OUTSIDE MARKETS: The previous close on Friday showed the Dow Jones
Industrial Average down 237.33 at 51,285.73 and the S&P 500 up 23.13 at
7,376.86. The 10-Year Treasury yield ended at 4.859%. Early Monday, the
December Dow Jones Futures are up 468 points. European markets are higher, with
spot futures for London's FTSE 100 up 0.72%, spot futures for Germany's DAX up
0.99%, and spot futures for France's CAC 40 Index up 0.56%. Asian markets are
higher, with Japan's Nikkei 225 Index up 2.33% and China's Shanghai Composite
Index up 0.32%.
Get your local Cash Bids emailed to you each morning from DTN – click here to sign up for DTN Snapshot.
|
|
