Pre-6 a.m. Globex Prices: March corn is down 3 1/4 cents per bushel, March soybeans are down 11 1/2 cents, and March KC wheat is up 2 1/2 cents.
CME Globex Recap: Grains are mixed to weaker with row crops and products down while wheat markets are mostly higher. None of the major grain market charts look to be in danger of damaging charts before the end of the year. The next leg of price action once volume returns next week will prove crucial.
Equity trade was quiet around the globe overnight as indices appear ready to quit 2021 and start fresh with 2022 next week. Energy markets were weaker overnight following their recent run up. Spot crude oil futures have been held by the 50-day moving average the last three sessions but remain above the 100-day.
The U.S. Dollar Index was a touch higher overnight, remaining solidly inside its range over the last month and a half. Metals were weaker across the board overnight with silver losses leading, down 0.36%.
OUTSIDE MARKETS:
Previous closes on Wednesday showed the Dow Jones Industrial Average up 90.42 at 36,488.63 and the S&P 500 up 6.71 at 4,786.35 while the 10-year Treasury yield ended at 1.543%. Early Thursday, the March DJIA futures are up 25 points.
Asian markets are mixed with Japan’s Nikkei 225 down 115.17 (0.4%) and China’s Shanghai Composite up 22.19 points (0.62%). European markets are mixed with London’s FTSE 100 down 0.47 points (0.01%), Germany’s DAX down 6.52 points (0.04%) and France’s CAC 40 up 10.58 points (0.15%).
The March Euro is down 0.002 at 1.130 and the March U.S. Dollar Index is up 0.139 at 96.065. The March 30-year T-Bond is up 1/32nds, while February gold is down $2.70 at $1,803.10 and February crude oil is down $0.59 at $75.97.
Soybeans on China’s Dalian Exchange were down 1.97% while soybean meal was down 0.06% and corn was up 0.34%.
