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DTN Early Word Grains 09/07 06:04
Grains Mostly Lower Overnight
Corn futures are expected to open 5 to 6 lower as of 6 a.m. CDT; soybeans
steady to 1 higher; wheat 10 to 12 lower.
By Darin Newsom
DTN Senior Analyst
GENERAL OPENING CALL Corn 5 to 6 lower, Soybeans steady to 1 higher, Wheat 10
to 12 lower.
6:00 AM e-CBOT Corn 5 1/2 lower (December), Soybeans unchanged (November),
Wheat 12 1/4 lower (Chicago December). Grains were lower Tuesday morning,
though soybeans were relatively strong compared to the other markets. Pressure
came from outside markets with the U.S. dollar index rallying and energies
coming under increased pressure.
OUTSIDE MARKETS The Dow Jones Industrial Average closed 127.83 points higher
Friday at 10,447.93. The overnight session saw the Dow Jones futures trade 42
points lower, indicating the market could see renewed selling interest Tuesday.
Asian markets were mixed with the Nikkei down 75.32 points at 9,226.00.
European markets were mostly lower. The overnight crude oil market was $1.55
lower at $73.05. Brent crude was $1.00 lower at $75.87. The December gold
contract was $2.70 lower at $1,248.40 while the U.S. dollar index is 0.573
higher at 82.627. Soybeans at the Chinese Dalian Commodity Exchange were mixed
while the Malaysian palm oil market was mostly higher.
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