DTN Early Word Grains 11/30 06:08
11/30/2022 - 06:40:00
DTN Early Word Grains 11/30 06:08 Grains Bounce at Midweek March corn is up 2 cents per bushel, January soybeans are up 11 cents, and March KC wheat is up 6 1/2 cents. Tregg Cronin DTN Contributing Analyst EARLY GLOBEX PRICES: March corn is up 2 cents per bushel, January soybeans are up 11 cents, and March KC wheat is up 6 1/2 cents. CME GLOBEX RECAP: Equity markets are mostly higher overnight with U.S. futures bouncing slightly. Inflation data in the eurozone came in lower than expected this month, giving more confidence that central banks globally may be able to slow the rate of interest rate increases in the near future. Energy markets are rallying overnight with crude oil back over $80.00 per barrel. The U.S. Dollar Index is lower overnight but remains in the trading range of the last week to ten days. Metals are higher overnight with copper surging by nearly 3.0%. Grains are enjoying the general commodity bounce overnight but mostly remain in consolidation phases. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 3.07 at 33,852.53 and the S&P 500 down 6.31 at 3,963.94 while the 10-Year Treasury yield ended at 3.748%. Early Wednesday, the December DJIA futures are up 28 points. Asian markets are mixed with Japan's Nikkei 225 down 58.85 (-0.21%) and China's Shanghai Composite up 1.59 points (0.05%). European markets are higher with London's FTSE 100 up 49.43 points (0.66%), Germany's DAX up 58.98 points (0.41%) and France's CAC 40 up 38.3 points (0.57%). The December Euro is up 0.003 at 1.040 and the December U.S. Dollar Index is down 0.318 at 106.450. The December 30-Year T-Bond is up 6/32nds, while December gold is up $11.90 at $1,760.30 and January crude oil is up $1.79 at $79.99. Corn on China's Dalian Exchange was down 0.89% while soybeans were up 1.32% and soybean meal was up 2.14%.