DTN Early Word Grains 12/11 06:09
Grains Start Higher Wednesday
Corn futures are higher at 6 a.m. CST, soybeans higher and wheat higher.
By Todd Hultman
6:00 a.m. CME Globex: March corn 2 1/4 cents higher, January soybeans 3 1/2
cents higher, and March Chicago wheat 3 3/4 cents higher.
CME Globex Recap: Grains are higher early Wednesday, rebounding from Tuesday's
losses and, in the case of corn and soybeans, showing a delayed response to the
more bullish aspects of Tuesday's USDA report. March Chicago wheat is taking
back part of Tuesday's loss, but remains in new low territory after USDA raised
its estimate of world wheat production.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 52.40 points lower
Tuesday at 15,973.13. The overnight session has the Dow Jones futures down 12
points early on Wednesday, indicating slightly lower prices for U.S. stocks
later Wednesday morning. Asian markets are lower with the Nikkei down 140
points at 15,500. European markets are mixed. The overnight crude oil market is
$.04 higher at $98.55 while Brent crude is $.30 lower at $109.08. The February
gold contract is $6.50 lower at $1,254.60 while the U.S. dollar index is steady
at 79.96. Soybeans at the Dalian Exchange were steady to lower while Malaysian
palm oil contracts are slightly lower.
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