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DTN Early Word Grains 11/06 05:49
Grain Markets Lower on Election Results, Higher Dollar, and Worries About
Future Chinese Demand
December corn is down 1 1/4 cents per bushel, January soybeans are down 17
3/4 cents, December KC wheat is down 8 1/2 cents, December Chicago wheat is
down 6 3/4 cents and December Minneapolis wheat is down 7 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 1/4 cents per
bushel, January soybeans are down 17 3/4 cents, December KC wheat is down 8 1/2
cents, December Chicago wheat is down 6 3/4 cents and December Minneapolis
wheat is down 7 cents.
CME GLOBEX RECAP: World equity markets are mostly higher as it appears as
the U.S. election has now been called for former President Trump. U.S. markets
are sharply higher as a Trump administration is thought to be positive to
corporate earnings with a chance of previous tax cuts now being extended. The
impact on the U.S. budget is driving interest rates sharply higher as well,
with bond prices falling sharply Wednesday morning. Higher interest rates are
supporting the U.S. dollar, which is trading at its highest level since July.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average up 427.28 at 42,221.88 and the S&P 500 up 70.07 at 5,782.76. The
10-Year Treasury yield ended at 4.289%. Early Wednesday, the December Dow Jones
Futures are up 1229 points. European markets are higher with the spot futures
of London's FTSE 100 trading up 1.25%, spot futures of Germany's DAX is trading
up 0.84% and the spot futures of France's CAC 40 Index up 1.22%. Asian markets
are mixed with Japan's Nikkei 225 Index up 2.61% and China's Shanghai Composite
Index down 0.09%.
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