DTN Early Word Grains 07/30 05:59
Grains Mixed Early Wednesday
Corn is lower at 6 a.m. (CT); soybeans are lower; wheat is higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: September corn 2 cents lower, November soybeans 8 cents
lower, and September Chicago wheat fractionally higher.
CME Globex Recap: Soybeans and corn were trading lower early Wednesday
morning, extending losses seen during Tuesday's session. All three wheat
markets were higher, though trade volume seemed to be relatively light. Outside
markets were mostly lower once again, with crude oil and natural gas bucking
the trend to post minor gains. The U.S. dollar index continues to rally
pressuring the gold market.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 70.48 points lower
Tuesday at 16,912.11. Dow Jones Industrial Average futures were 23 points
higher overnight, indicating the Dow could see renewed buying interest early
Wednesday. Asian markets were mostly higher with the Nikkei up 28.16 points at
15,646.23. European markets were mostly lower. The overnight crude oil market
was $0.18 higher at $101.15 while Brent crude was $0.28 lower at $107.44. The
December gold contract was $0.30 lower at $1,300.20 while the U.S. dollar index
was 0.069 higher at 81.283. Soybeans at the Dalian Exchange were lower while
Malaysian palm oil contracts were mostly higher.
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