DTN Early Word Grains 09/24 05:54
Harvest Pressure Emerges Early Thursday
December corn is down 5 1/4 cents, November soybeans are down 12 1/4 cents
and December KC wheat is down 5 1/4 cents.
DTN Lead Analyst
Pre-6 a.m. Globex Prices: December corn is down 5 1/4 cents, November
soybeans are down 12 1/4 cents and December KC wheat is down 5 1/4 cents.
CME Globex Recap: Early Thursday, Dow Jones futures are slightly higher, but
under pressure from lower trading in European and Asian stock markets and
ongoing concerns about the economic limitations of coronavirus. The December
U.S. Dollar Index is a little higher and most commodities, including grains,
are starting lower. Crude oil is lower with concerns about slower oil demand,
even after the Energy Department reported a 2.4 million barrel drop in last
week's inventory. Row crop harvest is picking up across the Midwest and
presenting a new source of selling pressure in corn and soybeans.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones
Industrial Average down 525.05 at 26,763.13 and the S&P 500 down 78.65 at
3,236.92 while the 10-Year Treasury yield ended at 0.68%. Early Thursday,
December Dow Jones futures are up 35 points. Asian markets are lower with
Japan's Nikkei 225 down 258.67 (-1.1%) and China's Shanghai Composite down
56.53 points (-1.7%). European markets are lower with London's FTSE 100 down
44.05 points (-0.7%), Germany's DAX down 68.39 points (-0.5%) and France's CAC
40 down 34.51 points (-0.7%). The December euro is down $.0003 at $1.1675. The
December U.S. Dollar Index is up .03 at 94.48. The December 30-year T-bond is
up 7/32, while December gold is down $12.90 at $1,855.50 and November crude oil
is down $0.30 at $39.63. On China's Dalian Exchange, soybeans are slightly
higher, while corn and soybean meal are trading a little lower early Thursday.
November palm oil is trading down 2.8%, a fourth day lower from its recent
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