DTN Early Word Grains 09/02 05:58
Grains Can't Even Find a Dead Cat Bounce
December corn was 1 cent lower, November soybeans were fractionally lower,
and December Chicago wheat was 1 cent lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was 1 cent lower, November soybeans were
fractionally lower, and December Chicago wheat was 1 cent lower.
CME Globex Recap: DJIA futures are trying to recover some of Tuesday's losses
early Wednesday. However, the move looks to be nothing more than a normal "dead
cat bounce. Grain contracts were quietly lower, pressured in part by a rally in
the U.S. dollar index. Crude oil continues to give back some of Monday's strong
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 469.68 points lower
Tuesday at 16,058.03. DJIA futures were 121 points higher. Asian markets were
mostly lower with the Nikkei down 70.29 points at 18,095.40 while China's
Shanghai Composite was down 6.46 points. European markets were mixed. The U.S.
dollar index was up 0.240 at 95.690. Crude oil was $1.01 lower at $44.40 while
Brent crude was $0.70 lower at $48.86. December gold was $2.50 lower at
$1,137.30. Soybeans at the Dalian Exchange posted small gains while Malaysian
palm oil futures were lower.
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