DTN Early Word Grains 11/22 05:56
Thanksgiving Day Eve Morning
December corn was fractionally higher, January soybeans were 4 cents higher,
and December Kansas City (HRW) was 2 cents higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was fractionally higher, January soybeans
were 4 cents higher, and December Kansas City (HRW) was 2 cents higher.
CME Globex Recap: The grain and oilseed complex was in the green early this
morning of Thanksgiving Day Eve. Soybeans led the way, posting a modest rally
after failing to climb above unchanged Tuesday. Corn and wheat were
fractionally higher. Outside commodities were mostly higher led by strong gains
in crude oil. The U.S. dollar index was lower and DJIA futures were higher
again early Wednesday.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 160.50 points (0.7%)
higher at 23,590.83, the NASDAQ Composite gained 71.76 points (1.1%) to
6,862.48, and the S&P 500 rallied 16.89 points (0.6%) to 2,599.03 Tuesday. DJIA
futures were 25 points higher early Wednesday morning. Asian markets closed
higher with Japan's Nikkei 225 up 106.67 points (0.5%), Hong Kong's Hang Seng
gaining 185.42 points (0.6%), and China's Shanghai Composite up 19.97 points
(0.6%). European markets were trading mostly higher with London's FTSE 100 up
17.89 points (0.2%), Germany's DAX down 52.11 points (0.4%), and France's CAC
40 off 3.34 points. The euro was 0.0013 higher at 1.1751 while the U.S. dollar
index lost 0.14 to 93.84. December 30-year T-Bonds were 11/32 lower at 153'24
while December gold gained $1.50 to $1,283.20. Crude oil was $1.06 higher at
$57.89 while Brent crude added $0.65 to $63.22. China's Dalian soybean and
Malaysian palm oil futures were both higher overnight.
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