DTN Early Word Grains 07/31 05:55
Grains Quietly Higher Early Friday
December corn was 3 cents higher, November soybeans were 1 cent higher, and
September Chicago wheat was 5 cents higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was 3 cents higher, November soybeans
were 1 cent higher, and September Chicago wheat was 5 cents higher.
CME Globex Recap: Grains posted a quiet overnight session, with most
contracts trading higher early Friday. The most notable feature continues to be
strong commercial buying in the soybean and bean meal markets. Outside
commodities were mostly lower with both energies and metals coming under
pressure despite a downturn in the U.S. dollar index.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 5.41 points lower
Thursday at 17,745.98. Asian markets were mostly higher with the Nikkei up
62.41 points at 20,585.24 while China's Shanghai Composite was down 42.04
points. European markets were mostly lower. The U.S. dollar index was 0.324
lower at 97.236. Crude oil was $0.98 lower at $47.54 while Brent crude was
$0.62 lower at $52.69. December gold was $7.60 lower at $1,081.10. Soybeans at
the Dalian Exchange were mixed while Malaysian palm oil contracts were lower.
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