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DTN Early Word Grains 10/15 05:51
Corn, Soybean, and Wheat Markets Welcome Fresh Export Data
December corn is down 1 cent per bushel, November soybeans are down 3 1/4
cents, December KC wheat is down 1 1/2 cents, December Chicago wheat is down 1
1/4 cents, and MIAX December Minneapolis wheat is down 0.0150 cents.
Mike McGinnis
DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 cent per bushel,
November soybeans are down 3 1/4 cents, December KC wheat is down 1 1/2 cents,
December Chicago wheat is down 1 1/4 cents, and MIAX December Minneapolis wheat
is down 0.0150 cents.
CME GLOBEX RECAP:Soybeans closed lower on Tuesday, while corn and wheat
finished slightly higher. Soybean, corn, and spring wheat basis were stronger
on Tuesday, while SRW wheat and HRW wheat basis remained steady. As the U.S.
government shutdown continues to delay most farm data reports, corn traders
welcomed Tuesday's Weekly Export Inspection Report, which showed a 65% increase
in bookings compared to a year ago. Brazil's CONAB agency lowered its
20215-21026 corn production estimate from previous figures. For soybeans,
weaker export inspections, trade tensions between the U.S. and China, higher
CONAB soybean output estimates, and harvest pressures weighed on Tuesday's
trade. Wheat traders used higher export inspection numbers and technical moves
off contract lows to push the market into positive territory.
OUTSIDE MARKETS: The previous closes on Tuesday showed the Dow Jones
Industrial Average up 202.88 at 46,270.46 and the S&P 500 down 10.41 at
6,644.31. The 10-Year Treasury yield ended at 4.022%. Early Wednesday, the
December Dow Jones Futures are up 184 points. European markets are mixed with
the spot futures of London's FTSE 100 trading down 0.46%, spot futures of
Germany's DAX are trading up 0.14% and the spot futures of France's CAC 40
Index are up 2.36%. Asian markets are higher, with Japan's Nikkei 225 Index up
1.76% and China's Shanghai Composite Index up 1.22%.
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