DTN Early Word Grains 09/21 05:37
Grain and Soybean Prices Remain Under Pressure Early Thursday
December corn was down 2 cents, November soybeans were down 13 cents and
December KC wheat was down 3 1/2 cents.
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn was down 2 cents, November
soybeans were down 13 cents and December KC wheat was down 3 1/2 cents.
CME GLOBEX RECAP: Early Thursday, Dow Jones futures are trading lower, in
line with other stock prices around the world and adding to Wednesday's losses
after the Federal Reserve kept its federal funds target unchanged Wednesday, as
many hoped. Even so, Fed projections show the federal funds rate is expected to
climb to 6.1% in late 2023 or early 2024, before starting back down again.
USDA's weekly export sales report is due out at 7:30 a.m., the same time as
weekly U.S. jobless claims and an update of the U.S. Drought Monitor. U.S.
existing home sales and leading indicators are set for 8 a.m., followed by the
U.S. Energy Department's weekly report of natural gas storage at 9:30 a.m.
OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average down 76.85 at 34,440.88 and the S&P 500 Index down 41.75 at 4,402.20.
The 10-Year Treasury yield ended at 4.35%, near the highest yield since 2007.
Early Thursday, December Dow Jones futures are down 161 points. European
markets are lower with the spot futures of the London FTSE 100 trading down
0.71%, spot futures of Germany's DAX trading down 0.71% and spot futures of
France's CAC Index trading down 1.09%. Asian markets are also lower with
Japan's Nikkei 225 index down 1.37% and China's Shanghai Composite Index down
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