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DTN Early Word Grains 11/26 07:04
Grain Markets Mixed as Tariffs Announced for Canada, Mexico, China
December corn is steady, January soybeans are up 3 1/2 cents, March KC wheat
is up 6 1/2 cents, March Chicago wheat is up 5 cents and March Minneapolis
wheat is up 7 1/2 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: December corn is steady, January soybeans
are up 3 1/2 cents, March KC wheat is up 6 1/2 cents, March Chicago wheat is up
5 cents and March Minneapolis wheat is up 7 1/2 cents.
CME GLOBEX RECAP: World equity markets are mixed, with the U.S. market
initially moving lower off the announcement of new tariffs on imports from
Canada, Mexico, and China but gradually recovering through the overnight trade.
World markets are lower on the news. Many traders believe that this
announcement is just a threat to begin a negotiation around concessions that
the new administration will be looking for. There are also questions about what
the President can do unilaterally and what will need to be approved in
Congress. Meanwhile, interest rates moved lower Monday as some of the members
of the Fed have expressed a willingness to see a 1/4 point cut at the December
Fed meeting.
Tuesday morning will give U.S. new data with the Case Shiller home price
index, consumer confidence, new home sales, and the release of the Fed minutes
coming later Tuesday morning. Wednesday's PCE report will be watched closely.
OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial
Average up 440.06 at 44,736.57 and the S&P 500 up 18.03 at 5,987.37. The
10-Year Treasury yield ended at 4.265%. Early Tuesday, the December Dow Jones
Futures are up 18 points. European markets are mixed/higher/lower with the spot
futures of London's FTSE 100 trading down 0.3%, spot futures of Germany's DAX
is trading down 0.48% and the spot futures of France's CAC 40 Index down 0.5%.
Asian markets are mixed/higher/lower with Japan's Nikkei 225 Index down 0.87%
and China's Shanghai Composite Index down 0.12%.
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