DTN Early Word Grains 06/29 05:46
Soybeans Take a Break Overnight
December corn was 3 cents lower, November soybeans were 10 cents lower, and
September Chicago wheat was unchanged.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was 3 cents lower, November soybeans were
10 cents lower, and September Chicago wheat was unchanged.
CME Globex Recap: After an initial overnight rally, soybean contracts slipped
lower through early Wednesday morning. Corn saw quiet overnight trade with
contracts near session lows, while wheat contracts were buoyed slightly by a
continued sell-off in the U.S. dollar index. Other markets were mostly higher
with crude oil, gold, and DJIA futures all showing gains.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 269.48 points higher
at 17,409.72, the NASDAQ Composite gained 97.43 points to 4,691.87 and the S&P
500 rallied 35.55 points to close at 2,036.09 Tuesday. DJIA futures were 102
points higher overnight. Asian markets were higher with Japan's Nikkei up
243.69 points (1.6%) while China's Shanghai Composite gained 19.03 points
(0.7%). European markets were also higher with London's FTSE 100 up 147.97
points (2.4%), Germany's DAX 170.30 points (1.8%) higher, and Frances CAC 40
gaining 103.62 points (2.5%). The U.S. dollar index was down 0.337 to 95.908.
Crude oil rallied $0.58 to $48.43 while Brent crude gained $0.49 to $49.07.
August gold was $2.10 higher at $1,320.00. China's Dalian soybean futures were
mixed while Malaysian palm oil futures were lower again overnight.
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