DTN Early Word Grains 07/30 05:55
Grains Go Green Early Thursday
December corn was 3 cents higher, November soybeans were 8 cents higher, and
September Chicago wheat was 4 cents higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was 3 cents higher, November soybeans
were 8 cents higher, and September Chicago wheat was 4 cents higher.
CME Globex Recap: As global financial markets continue to react to the
Federal Reserve's use of the word "some" (as in "some further improvement)
Wednesday in comments made regarding a possible interest rate increase in
September. The U.S. dollar index responded by rallying, but not to the point of
choking off light buying interest in grains and other commodities.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 121.12 points higher
Wednesday at 17,751.39. Asian markets were mixed with the Nikkei up 219.92
points at 20,522.83 while China's Shanghai Composite was down 83.40 points.
European markets were mostly higher. The U.S. dollar index was 0.279 higher at
97.255. Crude oil was $0.35 higher at $49.14 while Brent crude was $0.76 higher
at $54.14. December gold was $7.90 lower at $1,085.40. Soybeans at the Dalian
Exchange were higher while Malaysian palm oil contracts were also higher.
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