DTN Early Word Grains 12/08 05:55
That Friday Feeling
March corn was 1 cent higher, January soybeans were 3 cents higher, and
March Chicago (SRW) was 1 cent higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: March corn was 1 cent higher, January soybeans were 3
cents higher, and March Chicago (SRW) was 1 cent higher.
CME Globex Recap: TGOC (the grain and oilseed complex) was feeling TGIF
(thank goodness it's Friday) overnight into Friday morning after a week of
failed rallies (soybeans), new lows (winter wheat), and a whole lot of nothing
(corn). Overnight trade saw the complex trading higher, along with energies,
despite a stronger U.S. dollar index. The latter may have found renewed support
on headlines that the United Kingdom and European Union may have finally worked
out the terms of Brexit. Financial markets are also looking ahead to Friday's
morning's November jobs data.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 70.57 points (0.3%)
higher at 24,211.48, the NASDAQ Composite gained 36.47 points (0.5%) to
6,812.84, and the S&P 500 rallied 7.71 points to 2,636.98 Thursday. DJIA
futures were 45 points higher early Friday morning. Asian markets closed higher
with Japan's Nikkei 225 up 313.05 points (1.4%), Hong Kong's Hang Seng rallying
336.66 points (1.2%), and China's Shanghai Composite adding 17.94 points
(0.6%). European markets were trading higher with London's FTSE 100 up 18.81
points (0.3%), Germany's DAX gaining 164.97 points (1.3%), and France's CAC 40
up 23.08 points (0.4%). The euro fell another 0.0037 to 1.1736 as the U.S.
dollar index gained 0.27 to 94.03. March 30-year T-Bonds were 3/32 lower at
152'25 while February gold lost another $5.20 to $1,247.90. Crude oil was $0.37
higher at $57.06 while Brent crude added $0.34 to $62.54. China's Dalian
soybean and Malaysian palm oil futures were both lower again overnight.
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