DTN Early Word Grains 10/22 05:54
Grains Higher Again Early Wednesday
Corn is higher 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 was 1 cent higher, November soybeans 12
cents higher, and December Chicago wheat 1 cent higher.
CME Globex Recap: The soybean market extended its rally again overnight,
pulled higher by continued commercial buying in soybean meal. Corn and wheat
were lower, but rallied to fractional gains Wednesday morning on spillover
buying from the bean complex. Outside commodities were mostly higher, though
gold, silver, and natural gas were lower. The U.S. dollar was trading higher
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 215.14 points higher
Tuesday at 16,614.81. DJIA futures were 23 points lower overnight. Asian
markets were mostly higher with the Nikkei up 391.49 points at 15,195.77 and
the Hong Kong market was up 315.39 points. European markets were mixed. The
overnight crude oil market was $0.11 higher at $82.60 while Brent crude was
$0.36 higher at $86.58. The December gold contract was $4.70 lower at $1,247.00
while the U.S. dollar index was 0.221 higher at 85.524. Soybeans at the Dalian
Exchange were mixed while Malaysian palm oil contracts were higher.
Get your local Cash Bids emailed to you each morning from DTN – click here
to sign up for DTN Snapshot.