| |
DTN Early Word Grains 09/14 05:49
Row-Crop Markets Eye Harvest Activity and Yield Reports
December corn is down 1 3/4 cents per bushel, November soybeans are down 1/2
cent, December KC wheat is down 2 1/4 cents, December Chicago wheat is up 2 1/2
cents, and MIAX December Minneapolis wheat is steady.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 3/4 cents per
bushel, November soybeans are down 1/2 cent, December KC wheat is down 2 1/4
cents, December Chicago wheat is up 2 1/2 cents, and MIAX December Minneapolis
wheat is steady.
CME GLOBEX RECAP: On Friday, December corn dropped 3 1/2 cents, November
soybeans dropped 35 3/4 cents, and December KC wheat dropped 20 1/4 cents.
Soybean, corn, spring wheat, and hard red winter wheat basis were weaker
Friday, while soft red winter wheat basis was stronger. USDA printed a
market-friendly average corn yield, while raising its average soybean yield.
Meanwhile, Friday's U.S. ending stocks estimates were bullish for corn, neutral
to slightly bullish for soybeans, and neutral for wheat. Wheat prices fell as
the USDA's data on Friday signaled optimism for global production in 2026.
Crude oil reached $108 per barrel early Monday, after Saudi Arabia shut down a
pipeline, widening instability in Middle East oil supplies. On Monday, USDA
will release its weekly Export Inspections report at 10 a.m. CDT, as well as a
series of follow-ups to last Friday's WASDE at 1 p.m. CDT, such as updating the
wheat and feed grains database. At 3 p.m. CDT, the Crop Progress report will be
released, updating field-level conditions to begin the week.
OUTSIDE MARKETS: The previous close on Friday showed the Dow Jones
Industrial Average up 509.19 at 52,573.29 and the S&P 500 up 65.28 at 7,656.98.
The 10-Year Treasury yield ended at 4.975%. Early Monday, the September Dow
Jones Futures are down 133 points. European markets are mixed/higher/lower,
with the spot futures of London's FTSE 100 trading up 0.67%, spot futures of
Germany's DAX trading down 0.56%, and the spot futures of France's CAC 40 Index
down 0.8%. Asian markets are mixed/higher/lower, with Japan's Nikkei 225 Index
down 0.81% and China's Shanghai Composite Index down 0.07%.
For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
|
|
