Pre-6 a.m. CDT prices, CME Globex: December corn is up 1/2 cent, January soybeans are up 1 cent and December KC wheat is down 2 cents.
CME GLOBEX RECAP: Early Friday, Dow Jones futures are starting higher with concerns about inflation remaining in the news after this week’s 6.2% annual gain in the consumer price index. Oddly, this week’s higher U.S. Dollar Index indicates a concern about an increase in interest rates as the economy improves, but not a concern about inflation. Later Friday, investors will note the University of Michigan’s consumer sentiment index for early November.
OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 158.71 at 35,921.23 and the S&P 500 up 2.56 at 4,649.27 as the 10-Year Treasury yield was closed and stayed at 1.56%. Early Friday, December Dow Jones futures are trading up 89 points.
Asian markets are higher with Japan’s Nikkei 225 index up 1.13% and China’s Shanghai Composite Index up 0.18%. European markets are mixed with the spot futures of the London FTSE 100 trading down 0.52%, spot futures of Germany’s DAX trading up 0.12% and spot futures of France’s CAC Index trading up 0.16%. The December euro is down $0.0004 at $1.1448.
The December U.S. Dollar Index is up 0.01 at 95.18. The December 30-year T-bond is down 2/32nds, while December gold is down $11.70 at $1,852.20 and December crude oil is down $1.17 at $80.42.
On China’s Dalian exchange, January corn was down 1.1%, January soybeans were up 0.5%, January soybean meal was up 0.5% and January soybean oil was up 0.3%. September common wheat on China’s Zhengzhou exchange was unchanged. January Malaysian palm oil is trading up 1.1%.
