DTN Early Word Grains 07/23 05:56
Grains Quiet Early Wednesday
Corn is steady at 6 a.m. (CT); soybeans are higher; wheat is steady.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: September corn unchanged, November soybeans 2 cents
higher, and September Chicago wheat unchanged.
CME Globex Recap: The quiet overnight trade in grains could lead to a similar
lack of activity during Wednesday's session. Early morning saw soybeans 3 cents
higher, while corn and wheat were near unchanged. Corn contracts moved in
trading ranges of less than 2 cents. Outside commodities were mostly higher
while the U.S. dollar index sagged slightly.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 61.81 points higher
Tuesday at 17,113.54. Dow Jones Industrial Average futures were 29 points
higher overnight, indicating the Dow could see continued buying interest
Wednesday. Asian markets were mostly higher though the Nikkei was down 14.72
points at 15,328.56. European markets were also mostly higher. The overnight
crude oil market was $0.01 higher at $102.40 while Brent crude was $0.30 higher
at $107.63. The August gold contract was $2.20 higher at $1,308.50 while the
U.S. dollar index was 0.018 lower at 80.763. Soybeans at the Dalian Exchange
were higher while Malaysian palm oil contracts were lower.
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