DTN Early Word Grains 10/21 05:54
The Not-so-Great Balloon Race
December corn was 1 cent higher, November soybeans were 2 cents higher, and
December Chicago wheat was fractionally higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was 1 cent higher, November soybeans were
2 cents higher, and December Chicago wheat was fractionally higher.
CME Globex Recap: Grains were quiet overnight, as usual, but this time
drifting higher like balloons in a slow race. Corn and wheat showed narrow
trading ranges and fractional gains, while soybeans were supported by stronger
global oilseed markets. Energies were mostly higher, with natural gas being the
contrarian, while metals were lower. Financial markets saw the U.S. dollar
index continue to power higher while global equities were under pressure.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 40.27 points (0.2%)
lower at 18,162.35, the NASDAQ Composite lost 4.58 points to 5,241.83, and the
S&P 500 dipped 2.95 points (0.1%) to close at 2,141.34 Thursday. DJIA futures
were 46 points lower overnight. Asian markets were mostly lower with Japan's
Nikkei down 50.91 points (0.3%) while China's Shanghai composite gained 6.48
points (0.2%). European markets were mixed Friday with London's FTSE 100 up
18.15 points (0.3%), Germany's DAX gaining 11.47 points (0.1%), and France's
CAC 40 down 2.73 points. The U.S. dollar index was 0.191 higher at 98.506.
Crude oil rallied $0.23 to $50.86 while Brent crude gained $0.32 to $51.70.
December gold was $3.10 lower at $1,264.40. China's Dalian soybean futures were
higher while Malaysian palm oil futures were mostly higher overnight.
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