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DTN Early Word Grains 09/29 05:50
Grain Prices Mixed Friday Morning Ahead of USDA Reports Friday
December corn is down 1 cent per bushel, November soybeans are up 2 1/2
cents, December KC wheat is up 4 cents, December Chicago wheat is up 4 1/4
cents and December Minneapolis wheat is up 4 1/2 cents.
By Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 cent per bushel,
November soybeans are up 2 1/2 cents, December KC wheat is up 4 cents, December
Chicago wheat is up 4 1/4 cents and December Minneapolis wheat is up 4 1/2
cents.
CME GLOBEX RECAP: World equity markets are mostly higher, reacting to
Thursday's gains in the U.S. which were driven by a downward correction in
interest rates. The 10-year interest rate fell to 4.60%, the first drop in
several days which helped stock trades believe that the rate may begin to
stabilize. The revision in the 2nd quarter GDP was 0.1% lower at 2.1%. Fed
Chairman Powell's speech offered no new insights into future Fed policy.
OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average up 116.07 at 33,666.34 and the S&P 500 up 25.19 at 4,299.70, The
10-Year Treasury yield ended at 4.60%. Early Friday, the December Dow Jones
Futures are up 169 points. European markets are higher with the spot futures of
London's FTSE 100 trading up 0.86%, spot futures of Germany's DAX is trading up
1.04% and the spot futures of France's CAC 40 Index up 1%. Asian markets are
mixed with Japan's Nikkei 225 Index down 0.05% and China's Shanghai Composite
Index up 0.1%.
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