DTN Early Word Grains 09/23 05:56
Beans Higher Despite Weaker Basis Early Tuesday
Corn is lower at 6 a.m. (CT); soybeans are higher; wheat is steady.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn 1/4 cent lower, November soybeans 4 cents
higher, and December Chicago wheat unchanged.
CME Globex Recap: Grains were mixed early Monday with soybeans posting a
modest gain while corn and wheat showed fractional changes on either side of
unchanged. Outside commodities were higher as the U.S. dollar index came under
pressure. Gold led the way higher, pulling both the metals complex and energies
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 107.06 points lower
Monday at 17,172.68. Dow Jones Industrial Average futures were 49 points lower,
indicating continued selling interest could be seen Tuesday. Asian markets were
mostly lower while European markets were also mostly lower. The overnight crude
oil market was $0.48 higher at $91.35 while Brent crude was $0.46 higher at
$97.43. The December gold contract was $8.30 higher at $1,226.20 while the U.S.
dollar index was 0.325 lower at 84.427. Soybeans at the Dalian Exchange were
lower while Malaysian palm oil contracts were higher.
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