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DTN Early Word Grains 10/01 05:56
Row-Crop Markets Flooded with Data Amid Continued Harvest Delays
December corn is up 2 cents per bushel, November soybeans are down 1 3/4
cents, December KC wheat is up 8 3/4 cents, December Chicago wheat is up 4 1/2
cents, and MIAX December Minneapolis wheat is up 0.0500 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is up 2 cents per bushel,
November soybeans are down 1 3/4 cents, December KC wheat is up 8 3/4 cents,
December Chicago wheat is up 4 1/2 cents, and MIAX December Minneapolis wheat
is up 0.0500 cents.
CME GLOBEX RECAP: On Wednesday, December corn fell 21 1/4 cents, November
soybeans fell 4 3/4 cents, and December KC wheat fell 10 cents. Soybean, spring
wheat, hard red winter wheat, and soft red winter wheat basis was steady
Wednesday, while corn basis was weaker. On Wednesday, corn fell to a six-week
low after the USDA's Quarterly Grain Stocks Report showed a bearish jump in
corn stocks. Wednesday's U.S. September 1 stocks estimates were neutral to
bullish for soybeans, and neutral for wheat. Also, the USDA's Small Grains
Summary Report on Wednesday was neutral for wheat markets. The EIA released a
neutral-to-bearish weekly ethanol production report. More data is on the way
for markets to digest. The USDA's weekly Export Sales Report will be released
on Thursday at 7:30 a.m. Central.
OUTSIDE MARKETS: The previous close on Wednesday showed the Dow Jones
Industrial Average down 443.87 at 50,906.05 and the S&P 500 down 19.30 at
7,651.54. The 10-Year Treasury yield ended at 5.293%. Early Thursday, the
December Dow Jones Futures are down 166 points. European markets are lower,
with the spot futures of London's FTSE 100 trading down 1.52%, spot futures of
Germany's DAX are trading down 0.78%, and the spot futures of France's CAC 40
Index are down 1.36%. Asian markets are mixed, with Japan's Nikkei 225 Index up
3.3% and China's Shanghai Composite Index is steady.
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