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DTN Early Word Grains 09/18 05:48
Grain Markets Higher as China Returns From Holiday
December corn is up 1 3/4 cents per bushel, November soybeans are up 12 1/2
cents, December KC wheat is up 3 cents, December Chicago wheat is up 2 3/4
cents and December Minneapolis wheat is up 1 1/2 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is up 1 3/4 cents per
bushel, November soybeans are up 12 1/2 cents, December KC wheat is up 3 cents,
December Chicago wheat is up 2 3/4 cents and December Minneapolis wheat is up 1
1/2 cents.
CME GLOBEX RECAP: World equity markets are mixed but mostly lower as all
eyes are on the decision from the Federal Reserve which will be announced at 1
p.m. CDT Wednesday. Traders still seem to be mixed on whether the rate cut will
be 25 or 50 basis points. Tuesday's data was mostly better than expected, but
not by significant amounts. The retail sales report was the strongest report
released Tuesday, with sales up 0.1% compared to expectations at -0.2%. It
seems as if consensus Tuesday was moving toward a 25-basis point cut, but the
market will be wanting dovish comments from Chairman Powell should that be the
decision.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average down 15.90 at 41,606.18 and the S&P 500 up 1.49 at 5,634.58. The
10-Year Treasury yield ended at 3.642%. Early Wednesday, the September Dow
Jones Futures are up 63 points. European markets are lower with the spot
futures of London's FTSE 100 trading down 0.7%, spot futures of Germany's DAX
is trading down 0.06% and the spot futures of France's CAC 40 Index down 0.27%.
Asian markets are mixed with Japan's Nikkei 225 Index down 0.27% and China's
Shanghai Composite Index up 0.17%.
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