DTN Early Word Grains 09/18 05:56
Row Crops Start Lower After New Tariffs Announced
December corn was down 3/4 cent, November soybeans were down 3 1/2 cents,
and December K.C. wheat was down 1 3/4 cents.
By Todd Hultman
6:00 a.m. CME Globex: December corn was down 3/4 cent, November soybeans were
down 3 1/2 cents, and December K.C. wheat was down 1 3/4 cents.
CME Globex Recap: Major stock markets are higher in spite of a new round of
10% U.S. tariffs against $200 billion of Chinese goods which are set to go to
25% by the end of this year. Outside commodities are mixed and row crops are
lower, enduring steady bearish pressure as harvest season is underway.
OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial
Average down 92.55 points at 26,062.12 and the S&P 500 down 16.18 points at
2,888.80 while the 10-year Treasury yield ended at 3.00%. Early Tuesday, DJIA
futures were up 55 points. Asian markets are higher with Japan's Nikkei 225 up
325.87 (1.4%) and China's Shanghai Composite up 48.16 (1.8%). European markets
are higher with London's FTSE 100 up 11.52 points (0.2%), Germany's DAX up
55.37 points (0.5%), and France's CAC 40 up 27.98 points (0.5%). The euro was
down .0004 and the U.S. dollar index was up 0.04 at 94.54. December 30-year
T-Bonds were up 1/32nd while December gold was down $1.70 at $1,204.10 and
November crude oil was up $0.99 at $69.67. Soybeans on China's Dalian Exchange
were moderately higher and Malaysian palm oil futures were down 2.0%.
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