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DTN Early Word Grains 11/10 06:00
Traders Eye Government Reopening, Fresh USDA Data
December corn is up 2 cents per bushel, January soybeans are up 5 1/4 cents,
December KC wheat is up 5 1/4 cents, December Chicago wheat is up 5 3/4 cents,
and MIAX December Minneapolis wheat is up 0.0100 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is up 2 cents per bushel,
January soybeans are up 5 1/4 cents, December KC wheat is up 5 1/4 cents,
December Chicago wheat is up 5 3/4 cents, and MIAX December Minneapolis wheat
is up 0.0100 cents.
CME GLOBEX RECAP: Row crop futures rose overnight to begin the week's
trading. Soybean futures closed higher on Friday, while corn and wheat finished
lower. Soybean and SRW wheat basis strengthened, whereas corn, spring wheat,
and HRW wheat basis remained steady on Friday. Although daily price
fluctuations occurred, the January soybeans futures contract gained only 1 3/4
cents for the week, while the markets for corn and wheat were modestly lower
overall. Traders remain uncertain about where to position their bets and will
await USDA guidance later this week, with the next WASDE report scheduled for
Friday. Meanwhile, expect continued choppy trading, especially as speculation
about Chinese purchases is likely to be a key focus during the week.
OUTSIDE MARKETS: The previous closes on Friday showed the Dow Jones
Industrial Average up 74.80 at 46,987.10 and the S&P 500 up 8.48 at 6,728.80.
The 10-Year Treasury yield ended at 4.093%. Early Monday, the December Dow
Jones Futures are up 185 points. European markets are higher, with the spot
futures of London's FTSE 100 trading up 1.11%, spot futures of Germany's DAX
are trading up 1.77% and the spot futures of France's CAC 40 Index are up
1.27%. Asian markets are higher, with Japan's Nikkei 225 Index up 1.26% and
China's Shanghai Composite Index up 0.53%.
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