6:00 a.m. CME Globex: December corn was down 1 cent, November soybeans were down 3 1/2 cents, and September Kansas City (HRW) wheat was down 1/4 cent.
CME Globex Recap: The world’s stock markets are mostly lower, but Dow Jones futures are trading a little higher and commodities are mixed on early Thursday. Crude oil is roughly steady, staying near its highest prices in over three years with concerns about production trouble spots like Venezuela and Libya.
Grains are not apt to find much bullish help from Thursday’s weekly export sales report while traders anticipate two big USDA reports on Friday.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 165.52 points to 24,117.59 and the S&P 500 down 23.43 points to 2,699.63 while the 10-year Treasury yield ended at 2.83%. Early Thursday, DJIA futures were up 74 points.
Asian markets were lower with Japan’s Nikkei 225 down 1.38 points (-0.01%) and China’s Shanghai Composite down 26.28 (-0.9%). European markets were lower with London’s FTSE 100 down 21.46 points (-0.3%), Germany’s DAX down 93.72 points (-0.8%), and France’s CAC 40 down 19.76 points (-0.4%).
The euro was up 0.0007 and the U.S. dollar index was down 0.03 at 95.26. September 30-year T-Bonds were down 3/32nds while August gold was down $3.00 at $1,253.10 and August crude oil was up $0.11 at $72.87. Soybeans on China’s Dalian Exchange were roughly steady and Malaysian palm oil futures were up 1.1%.