| |
DTN Early Word Grains 12/05 05:47
Grains Higher Tuesday Morning on Short-Covering in Corn, Wheat; Soybeans
Bounce on Oversold Conditions
EARLY MORNING GLOBEX NET CHANGES: March corn is up 1 1/2 cents per bushel,
January soybeans are up 5 cents, March KC wheat is down 1 1/2 cents, March
Chicago wheat is up 1/2 cent and March Minneapolis wheat is down 3 1/2 cents.
By Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: March corn is up 1 1/2 cents per bushel,
January soybeans are up 5 cents, March KC wheat is down 1 1/2 cents, March
Chicago wheat is up 1/2 cent and March Minneapolis wheat is down 3 1/2 cents.
CME GLOBEX RECAP: U.S. equity markets are lower again Tuesday morning after
Monday's session in which we closed slightly lower but well off the day's lows.
Economic data Monday was limited to the factory orders report, which was down
3.6% in October, 0.1% lower than forecast. Tuesday we will get the U.S. job
openings and the services PMIs from both S&P and ISM. The 10-year note
rebounded slightly Monday, as traders contemplated Fed Chairman Jerome Powell's
comments Friday that reinforced his message of "Higher for Longer." Gold posted
a major reversal lower Monday after making new historical highs above
$2,130/oz. Geopolitical concerns likely weighed on market sentiment as well.
OUTSIDE MARKETS: Previous close Monday showed the Dow Jones Industrial
Average down 41.06 at 36,204.44 and the S&P 500 down 24.85 at 4,569.78, The
10-Year Treasury yield ended at 4.29%. Early Tuesday, December Dow Jones
Futures are down 64 points. European markets are mixed with the spot futures of
London's FTSE 100 trading down 0.62%, spot futures of Germany's DAX trading up
0.09% and the spot futures of France's CAC 40 Index up 0.13%. Asian markets are
lower with Japan's Nikkei 225 Index down 1.37% and China's Shanghai Composite
Index down 1.67%.
For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
|
|
