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DTN Early Word Grains 12/13 05:55
Grain Markets Mixed as Corn Continues to Correct but Wheat Finds Support
March corn is down 1 cent per bushel, January soybeans are down 4 1/4 cents,
March KC wheat is up 3/4 cent, March Chicago wheat is up 1/2 cent and March
Minneapolis wheat is up 1/2 cent.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: March corn is down 1 cent per bushel,
January soybeans are down 4 1/4 cents, March KC wheat is up 3/4 cent, March
Chicago wheat is up 1/2 cent and March Minneapolis wheat is up 1/2 cent.
CME GLOBEX RECAP: World equity markets are mixed again Friday morning, with
Europe and the U.S. recovering while Asian markets are weak. The DJIA has
closed lower for six consecutive sessions but is still only 2.5% off its
lifetime highs that were made last Wednesday. Thursday's PPI report was hotter
than expected, which matches up with the CPI report that was released on
Wednesday. This has caused a jump in interest rates, with the 10-year rate
having risen from 4.15% to 4.32% over the course of the week. This puts a rate
cut next week in jeopardy, which weighed on equity futures Thursday.
OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average down 234.44 at 43,914.12 and the S&P 500 down 32.94 at 6,051.25. The
10-Year Treasury yield ended at 4.324%. Early Friday, the December Dow Jones
Futures are up 84 points. European markets are higher with the spot futures of
London's FTSE 100 trading up 0.13%, spot futures of Germany's DAX is trading up
0.31% and the spot futures of France's CAC 40 Index up 0.38%. Asian markets are
lower with Japan's Nikkei 225 Index down 0.95% and China's Shanghai Composite
Index down 2.01%.
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