DTN Early Word Grains 06/30 05:58
USDA Reports Dead Ahead
December corn was 2 cents higher, November soybeans were 6 cents higher, and
September Chicago wheat was 1 cent higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was 2 cents higher, November soybeans
were 6 cents higher, and September Chicago wheat was 1 cent higher.
CME Globex Recap: Grain markets traded higher overnight into Thursday morning
with USDA's June 30 Quarterly Stocks and Acreage reports looming like an
unavoidable iceberg. Outside markets were mostly lower with gold, crude oil,
and the U.S. dollar index showing losses. DJIA futures were showing overnight
gains for the third consecutive day.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 284.96 points higher
at 17,694.68, the NASDAQ Composite gained 87.38 points to 4,779.25 and the S&P
500 rallied 34.68 points to close at 2,070.77 Wednesday. DJIA futures were 43
points higher overnight. Asian markets were mostly higher with Japan's Nikkei
up 9.09 points while China's Shanghai Composite dipped 1.99 points. European
markets were also mostly higher with London's FTSE 100 up 32.29 points (0.5%),
Germany's DAX 30.23 points (0.3%) higher, and Frances CAC 40 gaining 27.12
points (0.6%). The U.S. dollar index was down 0.189 to 95.580. Crude oil
dropped $0.49 to $49.39 while Brent crude was off $0.45 to $50.16. August gold
was $7.90 lower at $1,319.00. China's Dalian soybean futures and Malaysian palm
oil futures were higher overnight.
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