Grain News & Market Commentary

DTN Early Word Grains 10/26 05:45

10/26/2020 - 06:17:00

DTN Early Word Grains         10/26 05:45
   Grains Begin Week on Back Foot

   December corn is down 3 1/4 cents per bushel, November soybeans are down 3
1/4 cents, and December KC wheat is down 14 cents.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices: December corn is down 3 1/4 cents per bushel,
November soybeans are down 3 1/4 cents, and December KC wheat is down 14 cents.

   CME Globex Recap:

   Equity markets were mostly lower overnight with U.S. futures suggesting a
lower cash open Monday morning. Coronavirus cases on the rise in the U.S. and
Europe remain an economic headwind as lockdown measures are contemplated or
implemented. Stimulus talks in the United States look bleak with just over a
week until the presidential election and a Supreme Court vote likely this week.
Energy prices were weaker overnight with crude oil falling back below $40.00
per barrel as concerns about fuel demand mount. Grain markets were weaker
across the board overnight after some contracts gave up early gains. Losses
were led by wheat with Kansas City down double digits in overnight trade. The
best moisture potential of the season looks set to arrive this week in the
Southern Plains. The ag space has been on an historic run the last several
weeks but the managed fund community is now holding the bag on over 600,000
contracts, which will need to be defended.

   OUTSIDE MARKETS:

   Previous closes on Friday showed the Dow Jones Industrial Average down 28.09
at 28,335.57 and the S&P 500 up 11.90 at 3,453.49 while the 10-year Treasury
yield ended at 0.841%. Early Monday, the December DJIA futures are down 248
points. Asian markets are lower with Japan's Nikkei 225 down 22.25 (0.09%) and
China's Shanghai Composite down 26.88 points (0.82%). European markets are
lower with London's FTSE 100 down 9.08 points (0.15%), Germany's DAX down
264.16 points (2.09%) and France's CAC 40 down 25.21 points (0.51%). The
December euro is down 0.005 at 1.180 and the December U.S. Dollar Index is up
0.255 at 93.020. The December 30-year T-Bond is up 25/32nds, while December
gold is down $5.40 at $1,899.80 and December crude oil is down $1.07 at $38.78.
Soybeans on China's Dalian Exchange were up 1.31% while soybean meal was down
0.06%.

DTN Early Word Grains 10/26 05:45

10/26/2020 - 06:17:00

DTN Early Word Grains         10/26 05:45
   Grains Begin Week on Back Foot

   December corn is down 3 1/4 cents per bushel, November soybeans are down 3
1/4 cents, and December KC wheat is down 14 cents.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices: December corn is down 3 1/4 cents per bushel,
November soybeans are down 3 1/4 cents, and December KC wheat is down 14 cents.

   CME Globex Recap:

   Equity markets were mostly lower overnight with U.S. futures suggesting a
lower cash open Monday morning. Coronavirus cases on the rise in the U.S. and
Europe remain an economic headwind as lockdown measures are contemplated or
implemented. Stimulus talks in the United States look bleak with just over a
week until the presidential election and a Supreme Court vote likely this week.
Energy prices were weaker overnight with crude oil falling back below $40.00
per barrel as concerns about fuel demand mount. Grain markets were weaker
across the board overnight after some contracts gave up early gains. Losses
were led by wheat with Kansas City down double digits in overnight trade. The
best moisture potential of the season looks set to arrive this week in the
Southern Plains. The ag space has been on an historic run the last several
weeks but the managed fund community is now holding the bag on over 600,000
contracts, which will need to be defended.

   OUTSIDE MARKETS:

   Previous closes on Friday showed the Dow Jones Industrial Average down 28.09
at 28,335.57 and the S&P 500 up 11.90 at 3,453.49 while the 10-year Treasury
yield ended at 0.841%. Early Monday, the December DJIA futures are down 248
points. Asian markets are lower with Japan's Nikkei 225 down 22.25 (0.09%) and
China's Shanghai Composite down 26.88 points (0.82%). European markets are
lower with London's FTSE 100 down 9.08 points (0.15%), Germany's DAX down
264.16 points (2.09%) and France's CAC 40 down 25.21 points (0.51%). The
December euro is down 0.005 at 1.180 and the December U.S. Dollar Index is up
0.255 at 93.020. The December 30-year T-Bond is up 25/32nds, while December
gold is down $5.40 at $1,899.80 and December crude oil is down $1.07 at $38.78.
Soybeans on China's Dalian Exchange were up 1.31% while soybean meal was down
0.06%.