The US dollar index continues to hold firm, though this time was joined by US Treasury futures and Gold through Wednesday's pre-dawn hours.
-
Fundamentally, the Corn market continues to grow more bullish, as indicated by our REAL fundamental reads of basis and futures spreads.
Tuesday's session indicated new export sales of US soybeans were made.
Morning Summary: This was the second consecutive Wednesday morning when I was awakened shortly after midnight, though this time around was much more pleasant as it was due to a boom of thunder signaling some much-needed rain moving into the Omaha area. What’s that you ask? Last Wednesday morning? In true 21st Century style, my cell phone buzzed with a message from my son telling me the result of the US presidential election. That’s all I’ll say about that. As for this morning’s markets, the US dollar index was still firm pre-dawn after adding as much as 0.18 overnight. US Treasury futures were also in the green meaning it will be interesting to see which of these market sectors changes direction first as the day progresses. US stock index futures were showing small losses of about 0.25%. A look at global equities shows mixed results with Asian markets mostly lower (the outlier being China’s Shanghai Composite) while European markets were higher. Speaking of being in the green, that’s where we find most the colorful Metals this morning with Dec gold up $10 (0.4%) and Dec silver 29.1 cents (1.0%). The Energies sector was mostly higher as well with spot-month WTI crude oil showing a gain of $0.54 (0.8%).
