DTN Early Word Grains 09/22 05:57
Soybeans Crumble, Other Grains Mixed early Monday
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: December corn 1 cent lower, November soybeans 15 cents
lower, and December Chicago wheat 5 cents higher.
CME Globex Recap: The soybean market opened lower overnight, posting a
bearish gap on its weekly chart. From there the market continued to fall,
showing strong double-digit losses with contracts near session lows early
Monday. Trade volume was light in corn, with the market posting less than a
2-cent range. Wheat markets were able to rally on what looked to be light
commercial buying interest. Outside markets were lower.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 13.75 points higher
Friday at 17,279.74. Dow Jones Industrial Average futures were 50 points lower,
indicating selling interest could be seen Monday. Asian markets were mostly
lower with the Nikkei down 115.27 points at 16,205.90. European markets were
also mostly lower. The overnight crude oil market was $0.46 lower at $91.85
while Brent crude was $0.76 lower at $97.63. The December gold contract was
$1.60 lower at $1,215.00 while the U.S. dollar index was 0.055 higher at
84.790. Soybeans at the Dalian Exchange were lower while Malaysian palm oil
contracts were also lower.
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