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DTN Early Word Grains 10/18 05:56

10/18/2021 - 06:22:00

DTN Early Word Grains         10/18 05:56
   Grains Mixed to Begin Big Harvest Week

   December corn is up 3/4 cent per bushel, November soybeans are down 2 cents,
and December KC wheat is up 1 1/2 cents.

Tregg Cronin
DTN Contributing Analyst

   CME GLOBEX RECAP:

   Equity markets are weaker around the globe overnight with U.S. futures
suggesting a lower open later Monday morning as well. The headline overnight
was China's third quarter GDP rising 4.9% in the third quarter from a year
earlier, slowing from the 7.9% growth the previous quarter and lower than the
5.1% expected. There seems to be genuine fear the supply chain issues, and the
surging energy prices could bring about much slower economic growth heading
into 2022. Energy prices were stronger overnight with crude making new highs
for the move while natural gas is lower but well off the lows of the session.
The U.S. Dollar Index was firmer overnight but below recent highs. Metals were
mixed overnight with copper higher while gold and silver were lower. Grains
were mixed to higher with corn, wheat and soybean oil posting gains while
soybeans and meal trade weaker. Harvest reports, export activity and outside
markets should help drive price action this week.

   OUTSIDE MARKETS:

   Previous closes on Friday showed the Dow Jones Industrial Average up 382.20
at 35,294.76 and the S&P 500 up 33.11 at 4,438.26 while the 10-year Treasury
yield ended at 1.576%. Early Monday, the December DJIA futures are down 129
points. Asian markets are lower with Japan's Nikkei 225 down 43.17 (0.15%) and
China's Shanghai Composite down 4.23 points (0.12%). European markets are lower
with London's FTSE 100 down 18.78 points (0.26%), Germany's DAX down 82.41
points (0.53%) and France's CAC 40 down 52.15 points (0.78%). The December euro
is down 0.003 at 1.160 and the December U.S. Dollar Index is up 0.217 at
94.155. The December 30-year T-Bond is down 14/32nds, while December gold is
down $6.70 at $1,761.60 and November crude oil is up $1.35 at $83.63. Soybeans
on China's Dalian Exchange were up 1.32% while soybean meal was down 0.36% and
corn was down 0.16%.