DTN Early Word Grains 02/09 05:37
Soybeans, Meal Push Higher Early Thursday
March corn is up 1 cent, March soybeans are up 11 cents and March KC wheat
is down 2 cents.
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: March corn is up 1 cent, March soybeans
are up 11 cents and March KC wheat is down 2 cents.
CME GLOBEX RECAP: Early Thursday, stock futures in the U.S. were trading
higher along with stocks in Europe, continuing this week's ping-pong pattern
with investors jostled between a daily slew of U.S. earnings reports and the
latest Fed comments. At 7:30 a.m. CST, USDA's weekly export sales report will
be out, along with weekly U.S. jobless claims and an update of the U.S. Drought
Monitor. At 9:30 a.m., the U.S. Energy Department will release its weekly
report of natural gas storage. Thursday's earnings reports include Kellogg,
Goodyear Tire, S&P Global and PepsiCo.
OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average down 207.68 at 33,949.01 and the S&P 500 up 46.14 at 4,117.86. The
10-Year Treasury yield ended at 3.65%, up from the lowest yield in over four
months. Early Thursday, March Dow Jones futures are up 218 points. Asian
markets are mixed with Japan's Nikkei 225 index down 0.08% and China's Shanghai
Composite Index up 1.18%. European markets are higher with the spot futures of
the London FTSE 100 trading up 0.78%, spot futures of Germany's DAX trading up
1.39% and spot futures of France's CAC Index trading up 1.40%. The March euro
is up $0.0034 at $1.0780. The March U.S. Dollar Index is down 0.41 at 102.87.
The March 30-year T-bond is up 18/32nds, while April gold is up $2.80 at
$1,893.50 and March crude oil is up $0.12 at $78.59. On China's Dalian
exchange, March corn was down 0.5%, March soybeans were down 0.3%, May soybean
meal was down 0.3% and May soybean oil was down 0.1%. April Malaysian palm oil
is trading down 0.7%.
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