DTN Early Word Grains 05/29 05:56
The End of the Day is the End of May
July corn was 2 cents higher, July soybeans were 1 cent higher, and July
Kansas City wheat was 1 cent lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: July corn was 2 cents higher, July soybeans were 1 cent
higher, and July Kansas City wheat was 1 cent lower.
CME Globex Recap: The end of Friday's session marks the end of the month of
May for trading, opening the door for normal, volatile last day of the month
activity. Overnight trade saw corn continue to hold above technical support
while soybean contracts posted a tentative rally. Wheat contracts were lower
despite a sell-off in the U.S. dollar index.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 36.87points lower
Thursday at 18,126.12. Asian markets were mostly higher with the Nikkei up
11.69 points at 20,563.15. European markets were lower. The overnight crude oil
market was $0.79 higher at $58.47 while Brent crude was $0.67 higher at $63.25.
The August gold contract was $1.10 higher at $1,189.90 while the U.S. dollar
index was 0.086 lower at 96.879. Soybeans at the Dalian Exchange were lower
while Malaysian palm oil contracts were higher.
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