DTN Early Word Grains 06/28 05:58
A Queen Playlist Morning
December corn was fractionally higher, November soybeans were 2 cents
higher, and September Minneapolis (HRS) wheat was 7 cents higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was fractionally higher, November
soybeans were 2 cents higher, and September Minneapolis (HRS) wheat was 7 cents
CME Globex Recap: Grains were mostly higher early Wednesday, led by another
strong rally in Minneapolis spring wheat and anchored by a corn market that
didn't want to stray from unchanged. Morning weather maps show a storm system
moving out of Nebraska, heading east, and now stretching across the width of
Iowa. Meanwhile, the last 24 hours saw little change in the dry conditions
across the Northern Plains. The highlight of outside markets remains the
meltdown of the U.S. dollar index providing support to gold.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 98.89 points (0.5%)
lower at 21,310.66, the NASDAQ Composite lost 100.53 points (1.6%) to 6,146.62,
and the S&P 500 fell 19.69 points (0.8%) to 2,419.38 Tuesday. DJIA futures were
16 points higher early Wednesday morning. Asian markets closed lower with
Japan's Nikkei down 94.68 points (0.5%), Hong Kong's Hang Seng off 156.49
points (0.6%), and China's Shanghai Composite losing 18.00 points (0.6%).
European markets were trading lower with London's FTSE 100 down 3.80 points,
Germany's DAX off 64.28 points (0.5%), and France's CAC 40 down 18.11 points
(0.3%). The euro was 0.0029 higher at 1.1368 while the U.S. dollar index fell
another 0.25 to 96.22. September 30-year T-Bonds were 1 10/32 lower at 154'12
while August gold rallied $6.50 to $1,253.40. Crude oil was $0.16 lower at
$44.08 while Brent crude dipped $0.07 to $46.58. China's Dalian soybean futures
were higher and Malaysian palm oil futures were slightly lower overnight.
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