DTN Early Word Grains 10/19 05:48
19 Oct 2018
DTN Early Word Grains 10/19 05:48 Grains Mostly Weaker to Close Softer Week December corn was down 1, November soybeans were up 2, and December KC wheat was down 1 1/2. Tregg Cronin DTN Contributing Analyst Pre-5:00 a.m. CME Globex: December corn was down 1, November soybeans were up 2, and December KC wheat was down 1 1/2. CME Globex Recap: Global equities are mixed to weaker to close the week, although strength in Chinese markets overnight was impressive despite Q3 growth registering 6.5% growth, the lowest quarterly growth since 2008/09. Crude oil is struggling to get back over $70.00/bbl and remains below its 50 and 100-day moving averages. Grains are mostly lower to finish the week with some large exhaustion buying candles being posted on weekly charts. OUTSIDE MARKETS: Thursday closes showed the Dow Jones Industrial Average down 327.23 points at 25,379.45 and the S&P 500 down 40.43 points at 2,768.78 while the 10-year Treasury yield ended at 3.177%. Early Friday, DJIA futures up down 50.00. Asian markets were mixed with Japan's Nikkei 225 down 126.08 points (-0.0.56%) and China's Shanghai Composite was up 64.05 points (-2.58%). European markets are lower with London's FTSE 100 down 3.40 points (-0.05%), Germany's DAX down 47.82 points (-0.41%), and France's CAC 40 down 39.30 points (-0.77%). The euro was down 0.00225 at 1.14695 and the U.S. dollar index was up 0.0200 at 96.0050. September 30-year T-Bonds were down 1/32nds while December gold was up $0.80 at $1230.90 and November crude oil was up 0.30 at $68.95. Soybeans on China's Dalian Exchange closed down 0.78% and soymeal closed down 0.42%.