DTN Early Word Grains 08/31 05:57
The Last of the Dog Days of Summer
December corn was unchanged, November soybeans were 6 cents lower, and
December Chicago wheat was fractionally lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was unchanged, November soybeans were 6
cents lower, and December Chicago wheat was fractionally lower.
CME Globex Recap: As the last day of summer (unofficially) gets under way,
soybeans are once again under pressure. Corn was fractionally mixed was just
mixed. In other words, there was no clear direction for most of the grain
complex overnight. Outside markets saw energies continue Tuesday's sell-off
while metals tried to trade higher. The U.S. dollar index and DJIA futures were
both showing small losses early Wednesday morning.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 48.69 points lower
at 18,454.30, the NASDAQ Composite lost 9.34 points to 5,222.99, and the S&P
500 fell 4.26 points to close at 2,176.12 Wednesday. DJIA futures were 2 points
lower overnight. Asian markets were mostly higher with Japan's Nikkei up 162.04
points (1.0%) while China's Shanghai Composite gained 10.81 points (0.3%).
European markets were mixed with London's FTSE 100 down 1.44 points, Germany's
DAX lost 11.17 points (0.1%), and France's CAC 40 gained 26.61 points (0.6%).
The U.S. dollar index was 0.046 lower at 96.008. Crude oil was down $0.16 to
$46.19 while Brent crude lost $0.31 to $48.06. December gold was $0.40 higher
at $1,316.90. China's Dalian soybean futures were lower while Malaysian palm
oil futures were mixed overnight.
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