DTN Early Word Grains 08/01 05:57
Grains Mixed Early Friday
Corn is lower at 6 a.m. (CT); soybeans are lower; wheat is higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: September corn 1/2 cent lower, November soybeans 10
cents lower, and September Chicago wheat 3 cents higher.
CME Globex Recap: Grains were quietly mixed early Friday, with the Chicago
wheat market posting another rally on continued commercial buying interest.
Soybeans continue to fall as both sides were selling. Outside markets were
lower, led by another sharp sell-off in DJIA futures. The U.S. dollar index
continues to climb, putting pressure on metals and energies.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 317.06 points lower
Thursday at 16,563.30. Dow Jones Industrial Average futures were 94 points
lower overnight, indicating the Dow could see continued strong selling interest
Friday. Asian markets were mostly lower with the Nikkei down 97.66 points at
15,523.11. European markets were also mostly lower. The overnight crude oil
market was $0.99 lower at $97.18 while Brent crude was $0.64 lower at $105.38.
The December gold contract was $2.80 higher at $1,285.60 while the U.S. dollar
index was 0.018 higher at 81.474. Soybeans at the Dalian Exchange were mostly
higher while Malaysian palm oil contracts were higher.
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