DTN Early Word Grains 08/26 05:56
Yellen in Jackson Hole
December corn was fractionally lower, November soybeans were 2 cents lower,
and December Chicago wheat was 1 cent lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was fractionally lower, November soybeans
were 2 cents lower, and December Chicago wheat was 1 cent lower.
CME Globex Recap: Commodities, including grains, were mostly lower overnight
with the exception being metals. The U.S. dollar index was also showing a small
loss and DJIA futures small gains as markets in general await FOMC Chairwoman
Yellen's speech Friday morning from Jackson Hole, Wyoming. Traders are looking
for hints about the next interest rate hike: Might it be in September, before
the U.S. presidential election, or pushed back until at least December.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 33.07 points lower
at 18,448.41, the NASDAQ Composite lost 5.49 points to 5,212.20, and the S&P
500 fell 2.97 points to close at 2,172.47 Thursday. DJIA futures were 2 points
higher overnight. Asian markets were mostly lower with Japan's Nikkei down
195.24 points (1.2%) while China's Shanghai Composite gained 1.98 points.
European markets were also mostly lower with London's FTSE 100 up 2.92 points,
Germany's DAX down 12.90 points (0.1%), and France's CAC 40 off 1.26 points.
The U.S. dollar index was 0.133 lower at 94.639. Crude oil fell $0.16 to $47.17
while Brent crude was $0.33 lower at $49.34. December gold was $5.10 higher at
$1,329.70. China's Dalian soybean and Malaysian palm oil futures were both
lower again overnight.
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