DTN Early Word Grains 01/19 05:56
Grains Mixed Following Holiday Weekend
March corn is down 1 cent per bushel, March soybeans are down 13 cents, and
March KC wheat is up 7 3/4 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: March corn is down 1 cent per bushel, March
soybeans are down 13 cents, and March KC wheat is up 7 3/4 cents.
CME Globex Recap: Global equities are mostly higher following the long
weekend in the United States with U.S. futures looking to add gains later
Tuesday morning. Investors seem encouraged by comments from the Biden
Administration, especially Janet Yellen, in their push to "act big" to shore up
the U.S. economy. Ms. Yellen said the U.S. should take advantage of record low
interest rates to provide more aid to the American people and kickstart the
economy. Last week, President-elect Biden unveiled a $1.9 trillion stimulus
package that would follow the $900 billion package just passed by President
Trump at the end of 2020. Energy markets are mixed overnight, The U.S. Dollar
Index is weaker and precious metals are firmer. Grain markets are mixed with
wheat contracts leading higher while row crops and products are weaker.
OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average down 177.26 at 30,814.26 and the S&P 500 down 27.29 at 3,795.54 while
the 10-Year Treasury yield ended at 1.097%. Early Tuesday, the March DJIA
futures are up 157 points. Asian markets are mixed with Japan's Nikkei 225 up
391.25 (1.39%) and China's Shanghai Composite down 29.84 points (-0.83%).
European markets are higher with London's FTSE 100 up 12.32 points (0.18%),
Germany's DAX up 31.97 points (0.23%) and France's CAC 40 down 2.75 points
(-0.05%). The March Euro is up 0.005 at 1.210 and the March U.S. dollar index
is down 0.284 at 90.470. The March 30-Year T-Bond is down 9/32nds, while
February gold is up $12.10 at $1,842.00 and February crude oil is up $0.10 at
$52.46. Soybeans on China's Dalian Exchange were down 0.23% while soybean meal
was down 0.51% and corn was down 0.48%.
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