DTN Early Word Grains 01/23 05:53
Higher Grains as Ranges, Lack of Volatility Persist
March corn up 1 3/4 cents, March soybeans up 3 3/4 cents, and March KC Wheat
up 3 cents.
By Tregg Cronin
DTN Contributing Analyst
6:00 a.m. CME Globex: March corn up 1 3/4 cents, March soybeans up 3 3/4
cents, and March KC Wheat up 3 cents.
CME Globex Recap: Equities are trading cautiously after reports Tuesday the
Trump Administration was canceling lower-level trade talks later this week in
Washington. Higher-level talks are still scheduled for January 30-31 but the
admission the two sides remain a good deal apart with the March 2 deadline a
little more than a month away is unsettling. Grains are in no hurry to go
anywhere as fundamental data sets are lacking and interest from producers, end
users and fund managers decline at these prices.
OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial
Average down 301.87 at 24,404.48 and the S&P 500 down 37.81 at 2,632.90 while
the 10-yr Treasury yield ended at 2.748%. Early Wednesday, DJIA futures are up
82.00 points. Asian markets are mixed with Japan's Nikkei 225 down 29.19 points
(-0.14%) and China's Shanghai Composite up 1.30 points (0.05%). European
markets are mostly lower with London's FTSE 100 down 13.47 points (-0.20%),
Germany's DAX down 16.89 points (-0.15%), and France's CAC 40 up 7.13 points
(0.15%). The euro was down 0.00090 at 1.13790 and the U.S. dollar index was up
0.0620 at 96.3620. March 30-year T-Bonds were down 15/32nds while February gold
was up $1.00 at $1290.50 and March crude oil was up $0.45 at $53.46. Soybeans
on China's Dalian Exchange closed unchanged while soymeal closed up 0.19%.
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