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DTN Early Word Grains 01/06 05:38

6 Jan 2023
DTN Early Word Grains 01/06 05:38 Crop Prices Get a Lift Friday as Argentina Heats Up March corn is up 5 cents, March soybeans are up 8 cents and March KC wheat is up 3 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is up 5 cents, March soybeans are up 8 cents and March KC wheat is up 3 cents. CME GLOBEX RECAP: Early Friday, stock futures in the U.S. were slightly higher, similar to mixed trading in Europe. Traders are looking ahead to the Labor Department's nonfarm payroll at 7:30 a.m. CST Friday, anticipating an increase of 200,000 in December. The U.S. unemployment rate is expected to stay unchanged at 3.7%. In spite of recession concerns, the U.S. jobs market has held up relatively well and is one factor supporting higher interest rates. USDA's weekly export sales report will be out at 7:30 a.m. CST, followed by U.S. factory orders for November at 9 a.m. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 339.69 at 32,930.08 and the S&P 500 down 44.87 at 3,808.10, while the 10-Year Treasury yield ended at 3.72%, down from the October peak of 4.33%. Early Friday, March Dow Jones futures are trading up 63 points. Asian markets are higher with Japan's Nikkei 225 index up 0.59% and China's Shanghai Composite Index up 0.08%. European markets are mixed with the spot futures of the London FTSE 100 trading up 0.09%, spot futures of Germany's DAX trading down 0.16% and spot futures of France's CAC Index trading up 0.11%. The March euro is down $0.0024 at $1.0554. The March U.S. Dollar Index is up 0.40 at 105.23. The March 30-year T-bond is down 7/32nds, while February gold is down $1.60 at $1,839.0 and February crude oil is up $0.62 at $74.29. On China's Dalian exchange, March corn was up 0.2%, March soybeans were down 0.9%, May soybean meal was down 1.1% and May soybean oil was down 0.3%. March Malaysian palm oil is trading down 0.8%.