DTN Early Word Grains 12/09 06:04
Grains Start Higher With USDA Report In View
Corn futures are higher at 6 a.m. CST, soybeans higher and wheat higher.
By Todd Hultman
6:00 a.m. CME Globex: December corn 1 3/4 cents higher, November soybeans 6
1/2 cents higher, and December Chicago wheat 2 1/4 cents higher.
CME Globex Recap: Grains are higher early Friday, one day ahead of USDA's
WASDE report. Soybean prices are higher with chances that USDA will reduce its
U.S. ending soybean stocks estimate thanks to the recent strong pace of export
purchases from China.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 198.69 points higher
Friday at 16,020.20. The overnight session has the Dow Jones futures down 8
points early on Monday, indicating slightly lower prices for U.S. stocks later
Monday morning. Asian markets are higher with the Nikkei up 105 points at
15,775. European markets are mixed. The overnight crude oil market is $.23
higher at $97.88 while Brent crude is $.28 lower at $111.33. The February gold
contract is $1.00 lower at $1,228.00 while the U.S. dollar index is .08 lower
at 80.23. Soybeans at the Dalian Exchange were modestly higher while Malaysian
palm oil contracts are lower.
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