DTN Grain Open: Weak Ahead of Exports

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    Pre-6 a.m. Globex Prices: December corn is down 3 cents per bushel, November soybeans are down 7 1/2 cents, and September KC wheat is down 5 3/4 cents.

    CME Globex Recap: Grain markets are weaker across the board with losses being led by soybean oil and Kansas City wheat. Traders will be looking to export sales Thursday morning to set help stabilize prices as well as additional observations about the crop on social media.

    Equity markets are lower around the globe overnight with U.S. futures headed toward a lower open Thursday morning. The U.S. Dollar Index is higher overnight, following through on the reversal effort posted Wednesday which saw fresh two-year lows met with a higher close than the previous session. Momentum for the greenback has certainly turned higher. Energy markets and precious metals are both weaker overnight.

    OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average down 85.19 at 27,692.88 and the S&P 500 down 14.93 at 3,389.78 while the 10-Year Treasury yield ended at 0.675%. Early Thursday, the September DJIA futures are down 111 points.

    Asian markets are lower with Japan’s Nikkei 225 down 229.99 (-1%) and China’s Shanghai Composite down 44.23 points (-1.3%). European markets are lower with London’s FTSE 100 down 79.48 points (-1.3%), Germany’s DAX down 171.81 points (-1.32%) and France’s CAC 40 down 75.9 points (-1.52%).

    The September Euro is down 0.003 at 1.180 and the September U.S. dollar index is up 0.225 at 93.105. The September 30-Year T-Bond is up 22/32nds, while December gold is down $34.30 at $1,936.00 and September crude oil is down $0.34 at $42.59. Soybeans on China’s Dalian Exchange were up 1.56% while soybean meal was up 0.28%.

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