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DTN Early Word Grains 12/02 05:46
Grain Markets Lower to Begin the Week on Favorable Mato Grosso Weather
March corn is down 2 cents per bushel, January soybeans are down 1 1/4
cents, March KC wheat is down 2 3/4 cents, March Chicago wheat is down 4 cents
and March Minneapolis wheat is down 2 1/4 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: March corn is down 2 cents per bushel,
January soybeans are down 1 1/4 cents, March KC wheat is down 2 3/4 cents,
March Chicago wheat is down 4 cents and March Minneapolis wheat is down 2 1/4
cents.
CME GLOBEX RECAP: World equity markets are mixed with the U.S. market a
little lower to begin the new week. U.S. equity markets finished the month of
November posting new lifetime high closes in both the DJIA and the S&P 500.
Economic data has been mixed, but not strong enough to prevent a likely quarter
point rate cut at the Federal Reserve meeting in December.
This week brings several new data points for the market to evaluate. On
Monday, we get the ISM manufacturing report and construction spending. Tuesday
is job openings and auto sales. Wednesday brings the ADP employment report, ISM
services, factory orders, and the Fed Beige book. Thursday is the initial
jobless claims and the U.S. trade deficit. Finally, Friday gives U.S. consumer
sentiment, consumer credit, and the November employment report.
OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average up 188.59 at 44,910.65 and the S&P 500 up 33.64 at 6,032.38. The
10-Year Treasury yield ended at 4.178%. Early Monday, the December Dow Jones
Futures are down 16 points. European markets are mixed with the spot futures of
London's FTSE 100 trading up 0.08%, spot futures of Germany's DAX is trading up
0.55% and the spot futures of France's CAC 40 Index down 0.41%. Asian markets
are higher with Japan's Nikkei 225 Index up 0.8% and China's Shanghai Composite
Index up 1.13%.
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