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DTN Early Word Grains 10/03 05:51
Grain Markets Lower, Correcting Recent Rally
December corn is down 1 1/2 cents per bushel, November soybeans are down 8
1/2 cents, December KC wheat is down 2 1/2 cents, December Chicago wheat is
down 2 1/4 cents and December Minneapolis wheat is down 3/4 cent.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is down 1 1/2 cents per
bushel, November soybeans are down 8 1/2 cents, December KC wheat is down 2 1/2
cents, December Chicago wheat is down 2 1/4 cents and December Minneapolis
wheat is down 3/4 cent.
CME GLOBEX RECAP: World equity markets are mixed as the Wednesday's lower
U.S. trade found support despite the escalation of the war in the Middle East
and the market managed to post a slightly higher close. Traders are getting
ready for Friday's important U.S. employment report, and a weaker jobs market
could be the key to another rate cut of over 25 basis points at the Fed's next
meeting.
OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average up 39.55 at 42,196.52 and the S&P 500 up 0.79 at 5,709.54. The 10-Year
Treasury yield ended at 3.785%. Early Thursday, the December Dow Jones Futures
are down 147 points. European markets are mixed with the spot futures of
London's FTSE 100 trading up 0.2%, spot futures of Germany's DAX is trading
down 0.6% and the spot futures of France's CAC 40 Index down 0.88%. Asian
markets are mixed with Japan's Nikkei 225 Index down 0.27% and China's Shanghai
Composite Index is closed.
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