Monday, November 20, 2017  

 
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DTN Early Word Grains         11/20 05:56
   It's a Bloody Monday

   December corn was fractionally lower, January soybeans were 6 cents lower,
and December Chicago (SRW) wheat was 4 cents lower.

By Darin Newsom
DTN Senior Analyst

6:00 a.m. CME Globex:   December corn was fractionally lower, January soybeans
were 6 cents lower, and December Chicago (SRW) wheat was 4 cents lower.

CME Globex Recap:   Regarding the title of this morning's commentary, you read
with either an American meaning (commodity markets all in the red) or with a
British dialect (bloody as a word to express annoyance or emphasis). The grain
and oilseed complex showed little interest overnight in follow-through buying
from Friday, led by soybeans. Wheat also took a hit while corn drifted lower.
Most other commodities also struggled, with only cotton showing a small gain
Monday morning. The U.S. dollar index was higher, but also well off its session
high to start the day.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed 100.12 points (0.4%)
lower at 23,358.24, the NASDAQ Composite lost 10.50 points (0.2%) to 6,782.79,
and the S&P 500 fell 6.79 points (0.3%) to 2,578.85 Friday. DJIA futures were
10 points lower early Monday morning. Asian markets closed mixed with Japan's
Nikkei 225 down 134.04 points (0.6%), Hong Kong's Hang Seng gaining 61.27
points (0.2%), and China's Shanghai Composite up 9.49 points (0.3%). European
markets were trading mostly higher with London's FTSE 100 off 1.08 points,
Germany's DAX rallying 26.05 points, and France's CAC 40 adding 13.55 points
(0.2%). The euro was 0.0005 lower at 1.1787 while the U.S. dollar index gained
0.07 to 93.74 after posting a high of 94.04 overnight. December 30-year T-Bonds
were 10/32 higher at 154'03 while December gold fell $5.30 to $1,291.20. Crude
oil was $0.20 lower at $56.35 while Brent crude lost $0.56 to $62.16. China's
Dalian soybean futures were near higher and Malaysian palm oil futures were
lower overnight.
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