DTN Early Word Grains 08/29 05:58
Grains Mostly Higher Early Friday
Corn is lower at 6 a.m. (CT); soybeans are higher; wheat is higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn 1 cent lower, November soybeans 3 cents
higher, and December Chicago wheat 4 cents higher.
CME Globex Recap: The wheat market continues to rally, despite another round
of buying in the U.S. dollar index overnight. Increased tension in Ukraine has
traders buying into the market ahead of the three-day holiday weekend. Soybeans
were also higher on possible commercial buying interest, while corn contracts
were unchanged to fractionally lower. Outside commodities were also mostly
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 42.44 points lower
Thursday at 17,079.57. Dow Jones Industrial Average futures were 49 points
higher overnight, indicating the Dow could see renewed buying interest Friday.
Asian markets were mixed with the Nikkei down 35.27 points at 15,424.59.
European markets were mostly higher. The overnight crude oil market was $0.43
higher at $94.98 while Brent crude was $0.32 higher at $102.78. The December
gold contract was $3.90 lower at $1,286.50 while the U.S. dollar index was
0.012 higher at 82.489. Soybeans at the Dalian Exchange were mostly lower while
Malaysian palm oil contracts were lower.
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