DTN Early Word Grains 12/06 05:51
6 Dec 2022
DTN Early Word Grains 12/06 05:51 Row Crops Find Early Support Tuesday March corn was up 3 cents, January soybeans were up 11 cents and March KC wheat was down 1 cent. Todd Hultman DTN Lead Analyst PRE-6 AM GLOBEX PRICES: March corn was up 3 cents, January soybeans were up 11 cents and March KC wheat was down 1 cent. CME GLOBEX RECAP: Early Tuesday, stock futures in the U.S. were trading slightly higher with quiet markets overnight in Europe and Asia. Expectations for another rate hike from the Federal Reserve next week are keeping traders cautious. CNBC.com reports more Russian missile attacks on southern Ukraine Monday and what appears to be some success from possible Ukrainian strikes on air bases in Russian territory, not far from Moscow on Tuesday. The U.S. Census Bureau will report on the trade deficit for October at 7:30 a.m. CST, followed later Tuesday morning by more specific trade data from USDA. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average down 482.78 at 33,947.10 and the S&P 500 down 72.86 at 3,998.84, while the 10-Year Treasury yield fell to 3.60%, up from the lowest yield in over two months. Early Tuesday, March Dow Jones futures are trading up 46 points. Asian markets are a little higher with Japan's Nikkei 225 index up 0.24% and China's Shanghai Composite Index up 0.02%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.20%, spot futures of Germany's DAX trading down 0.23% and spot futures of France's CAC Index trading down 0.13%. The December euro is up $0.0015 at $1.0520. The December U.S. Dollar Index is down 0.13 at 105.11. The March 30-year T-bond is up 12/32nds, while February gold is up $7.10 at $1,788.40 and January crude oil is down $0.85 at $76.08. On China's Dalian exchange, January corn was down 0.5%, January soybeans were down 0.1%, January soybean meal was down 0.1% and January soybean oil was down 0.2%. February Malaysian palm oil is trading up 3.2%.