DTN Early Word Grains 07/31 06:04
Grains Lower Early Thursday
Corn is lower at 6 a.m. (CT); soybeans are lower; wheat is lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: September corn 2 cents lower, November soybeans 3 cents
lower, and September Chicago wheat 3 cents lower.
CME Globex Recap: It was another quiet overnight session with corn contracts
posting a trading range of less than 2 cents, wheat about 5 cents, and soybeans
less than 7 cents. All three markets were lower early Thursday. Outside
commodities were mostly lower with metals and natural gas posting small gains.
DJIA futures were sharply lower, in step with global equity markets.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 31.75 points lower
Wednesday at 16,880.36. DJIA futures were 103 points lower overnight indicating
the Dow could see stronger selling interest Thursday. Asian markets were mostly
lower with the Nikkei down 25.46 points at 15,620.77. European markets were
also mostly lower. The overnight crude oil market was $0.94 lower at $99.33
while Brent crude was $0.63 lower at $105.88. The December gold contract was
$0.10 higher at $1,297.00 while the U.S. dollar index was 0.021 higher at
81.453. Soybeans at the Dalian Exchange were higher while Malaysian palm oil
contracts were mostly lower.
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