DTN Early Word Grains 05/21 06:10
Grains Lower Again Tuesday
Corn futures are lower, soybeans unchanged, and wheat lower at 6 a.m. CDT.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: Corn 14 cents lower, soybeans unchanged, and wheat 10
CME Globex Recap: Soybeans pushed higher over the course of the overnight
session, but were unable to hold gains through early Tuesday morning due to
strong spillover pressure from the other grains and outside commodities. The
U.S. dollar index renewed its rally, while Dow Jones Industrial Average futures
posted small losses.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 19.12 points lower
Monday at 15,335.28. The overnight session saw the Dow Jones futures trade 1
point lower, indicating U.S. stocks could see light selling interest early
Tuesday. Asian markets were mostly lower, though the Nikkei was up 20.21 points
at 15,381.02. European markets were also mostly lower. The overnight crude oil
market was $0.33 lower at $96.38 while Brent crude was $0.55 lower at $104.25.
The June gold contract was $4.50 lower at $1,379.60 while the U.S. dollar index
is 0.322 higher at 84.058. Soybeans at the Dalian Exchange were mixed while
Malaysian palm oil contracts were also mixed.
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