DTN Early Word Grains 10/17 05:57
No Turnaround Yet
December corn was 1 cent lower, November soybeans were 4 cents lower, and
December Chicago (SRW) wheat was fractionally lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was 1 cent lower, November soybeans were
4 cents lower, and December Chicago (SRW) wheat was fractionally lower.
CME Globex Recap: Early Tuesday morning finds grains and oilseeds following
the same path they did Monday afternoon. Soybeans and corn were lower, led once
again by beans, while the wheat complex was mixed. Most other commodities were
higher including softs, led by cotton, and the energies. Metals, on the other
hand, were lower as gold posted a solid sell-off. The U.S. dollar index was
higher again, as were DJIA futures.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 85.24 points (0.4%)
higher at 22,956.96, the NASDAQ Composite gained 18.20 points (0.3%) to
6,624.00, and the S&P 500 added 4.47 points (0.2%) to 2,557.64 Monday. DJIA
futures were 2 points higher early Tuesday morning. Asian markets closed mostly
higher with Japan's Nikkei up 80.56 points (0.4%), Hong Kong's Hang Seng
gaining 4.69 points, and China's Shanghai Composite off 6.43 points (0.2%).
European markets were trading mostly lower with London's FTSE 100 up 0.38
point, Germany's DAX gaining 3.85 points, and France's CAC 40 down 1.93 points.
The euro was 0.0039 lower at 1.1758 while the U.S. dollar index gained 0.22 to
93.50. December 30-year T-Bonds were 1/32 higher at 153'24 while December gold
fell $12.90 to $1,290.10. Crude oil was $0.22 higher at $52.09 while Brent
crude gained $0.26 to $58.08. China's Dalian soybean and Malaysian palm oil
futures were lower overnight.
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