DTN Early Word Grains 11/14 05:45
14 Nov 2022
DTN Early Word Grains 11/14 05:45 Soybean Prices Held Back by Ongoing China Concerns December corn was down 4 cents, January soybeans were down 12 cents and December KC wheat was up 1/2 cent. Todd Hultman DTN Lead Analyst EARLY GLOBEX PRICES: December corn was down 4 cents, January soybeans were down 12 cents and December KC wheat was up 1/2 cent. CME GLOBEX RECAP: Early Monday, stock futures in the U.S. were trading lower along with Treasury bonds, losing part of last week's enthusiasm over the smaller-than-expected gain in October consumer prices. China's yuan is trading higher Monday after Bloomberg reported China is taking steps to support the real estate market. Presidents Joe Biden and Xi Jinping are meeting Monday at the site of the G20 meeting and have much to discuss. Monday's earnings reports include Tyson with several large retailers ready to report later this week. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 32.49 at 33,747.86 and the S&P 500 up 36.56 at 3,992.93, while the 10-Year Treasury yield eased to 3.81%, down from the highest yield since 2008. Early Monday, December Dow Jones futures are trading down 103 points. Asian markets are lower with Japan's Nikkei 225 index down 1.06% and China's Shanghai Composite Index down 0.13%. European markets are a little higher with the spot futures of the London FTSE 100 trading up 0.31%, spot futures of Germany's DAX trading up 0.18% and spot futures of France's CAC Index trading up 0.27%. The December euro is down $0.0047 at $1.0344. The December U.S. Dollar Index is up 0.61 at 106.78. The December 30-year T-bond is down 23/32nds, while December gold is down $8.80 at $1,760.60 and December crude oil is down $0.68 at $88.28. On China's Dalian exchange, January corn was down 0.3%, January soybeans were down 1.0%, January soybean meal was down 1.4% and January soybean oil was down 0.3%. January Malaysian palm oil is trading down 4.2%.