DTN Early Word Grains 09/22 05:28
Grains Steady to Higher After Thursday's Risk-Off Selling
December corn was steady, November soybeans were up 6 cents and December KC
wheat was up 2 cents.
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn was steady, November
soybeans were up 6 cents and December KC wheat was up 2 cents.
CME GLOBEX RECAP: Early Friday, Dow Jones futures are trading roughly steady
after suffering from lower trade Thursday, a risk-off day of selling that took
down nearly all the commodity prices also. Wednesday's projections from the
Federal Reserve expect the federal funds rate to reach 6.1% by the end of 2023,
a bearish outlook that turned traders defensive. USDA's cattle on-feed report
for September 1 will be out at 2 p.m. CDT Friday. Dow Jones' survey expects the
on-feed total to be down 2.2% from a year ago and placements to be down 5.2%
from a year ago.
Previous closes Thursday showed the Dow Jones Industrial Average down 370.46
at 34,070.42 and the S&P 500 Index down 72.20 at 4,330.0. The 10-Year Treasury
yield ended at 4.48%, the highest yield since 2007. Early Friday, December Dow
Jones futures are up 35 points. European markets are mostly lower with the spot
futures of the London FTSE 100 trading up 0.21%, spot futures of Germany's DAX
trading down 0.34% and spot futures of France's CAC Index trading down 0.72%.
Asian markets are mixed with Japan's Nikkei 225 index down 0.52% and China's
Shanghai Composite Index up 1.55%.
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