DTN Early Word Grains 10/04 05:51
With U.S. Stocks Higher and Dollar Lower, Commodities Start Higher Tuesday
December corn was up 2 cents, November soybeans were up 5 cents and December
KC wheat was up 11 cents.
DTN Lead Analyst
EARLY GLOBEX PRICES: December corn was up 2 cents, November soybeans were up
5 cents and December KC wheat was up 11 cents.
CME GLOBEX RECAP: Early Tuesday, stock futures in the U.S. were starting
higher as Monday's gains reverberated around world markets. The Reserve Bank of
Australia increased its interest rate by a less-than-expected quarter percent
to 2.60%, reported RTTNews.com. According to Reuters, heavy fighting continues
in eastern Ukraine where Ukrainian forces have made significant advances in two
of the four regions Russia captured. According to the Wall Street Journal,
Hurricane Ian caused more than $100 billion of damage, a hit that may cause the
Fed to temporarily slow down its hawkish policies.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial
Average up 765.38 at 29,490.89 and the S&P 500 up 92.81 at 3,678.43, while the
10-Year Treasury yield fell to 3.65%, down from the highest yield in 12 years.
Early Tuesday, December Dow Jones futures are trading up 464 points. Asian
markets are higher with Japan's Nikkei 225 index up 2.96%. European markets are
higher with the spot futures of the London FTSE 100 trading up 1.53%, spot
futures of Germany's DAX trading up 2.41% and spot futures of France's CAC
Index trading up 2.80%. The December euro is up $0.0058 at $.9929. The December
U.S. Dollar Index is down 0.53 at 111.13. The December 30-year T-bond is up
27/32nds, while December gold is up $14.70 at $1,716.70 and November crude oil
is up $0.42 at $84.05. December Malaysian palm oil is trading up 5.8%. There
are no quotes from China's Dalian exchange or stock market this week due to a
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