DTN Early Word Grains 09/02 05:57
New Month Brings Light Buying to Grains
Corn is higher at 6 a.m. (CT); soybeans are higher; wheat is higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn 1 cent higher, November soybeans 4 cents
higher, and December Chicago wheat 1/4 cent higher.
CME Globex Recap: After a lower opening, grains were able to find light
buying interest overnight, leading to a higher trade early Tuesday morning.
Activity seemed to be quiet coming out of a three-day holiday weekend, with the
rally in soybeans pulling corn and wheat up as well. Outside commodities were
lower with pressure tied to another solid rally in the U.S. dollar index.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 18.88 points higher
Friday at 17,098.45. Dow Jones Industrial Average futures were 33 points higher
overnight, indicating the Dow could see continued buying interest Monday. Asian
markets were mostly higher with the Nikkei up 192.00 points at 15,668.60.
European markets were higher. The overnight crude oil market was $0.78 lower at
$95.18 while Brent crude was $0.81 lower at $101.98. The December gold contract
was $9.90 lower at $1,277.50 while the U.S. dollar index was 0.238 higher at
82.986. Soybeans at the Dalian Exchange were higher while Malaysian palm oil
contracts were also higher.
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