DTN Early Word Grains 08/23 05:55
A Mostly Green Morning, Even in Wheat
December corn was unchanged, November soybeans were 5 cents higher, and
December Chicago (SRW) wheat was 1 cent higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was unchanged, November soybeans were 5
cents higher, and December Chicago (SRW) wheat was 1 cent higher.
CME Globex Recap: Grain and oilseed markets were mostly higher early
Wednesday morning with only soybean meal lower and Malaysian palm oil mixed.
Light support came from a small sell-off in the U.S. dollar index, though the
energy complex was lower. Gold posted a minor rally as sellers returned to DJIA
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 196.14 points (0.9%)
higher at 21,899.89, the NASDAQ Composite gained 84.35 points (1.4%) to
6,297.48, and the S&P 500 added 24.14 points (1.0%) to 2,452.51 Tuesday. DJIA
futures were 40 points lower early Wednesday morning. Asian markets closed
mostly higher with Japan's Nikkei up 50.80 points (0.3%) and China's Shanghai
Composite down 2.52 points. European markets were trading lower with London's
FTSE 100 down 2.12 points, Germany's DAX off 9.58 points, and France's CAC 40
losing 2.05 points. The euro gained 0.0018 to 1.1779 while the U.S. dollar
index dipped 0.06 to 93.43. December 30-year T-Bonds were unchanged at 154'12
while December gold added $1.00 to $1,292.00. Crude oil was $0.11 lower at
$47.72 while Brent crude slipped $0.20 to $51.67. China's Dalian soybean
futures were higher and Malaysian palm oil futures were mixed overnight.
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