DTN Early Word Grains 08/21 05:58
Grains Higher Overnight
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: September corn 2 cents higher, November soybeans 5
cents higher, and September Chicago wheat 5 cents higher.
CME Globex Recap: Solid commercial buying in soybeans and wheat sparked an
overnight rally in grains. Corn contracts were quietly higher, with most
posting 4-cent trading ranges through early Thursday morning. Outside markets
were lower again while the U.S. dollar index continues to move higher.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 59.54 points higher
Wednesday at 16,979.13. Dow Jones Industrial Average futures were 36 points
higher overnight, indicating the Dow could see continued buying interest
Thursday. Asian markets were mixed with the Nikkei up 131.75 points at
15,586.20. European markets were mostly higher. The overnight crude oil market
was $0.63 lower at $92.82 while Brent crude was $0.76 lower at $101.52. The
December gold contract was $13.20 lower at $1,282.00 while the U.S. dollar
index was 0.026 higher at 82.252. Soybeans at the Dalian Exchange were lower
while Malaysian palm oil contracts were also lower.
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