DTN Early Word Grains 12/06 05:58
Palm Oil Keeps Pushing Higher
March corn was down 1/2 cent, January soybeans were up 6 cents, and March
Chicago wheat was up 1/2 cent.
By Todd Hultman
6:00 a.m. CME Globex: March corn was down 1/2 cent, January soybeans were up
6 cents, and March Chicago wheat was up 1/2 cent.
CME Globex Recap: Soybeans are 6 cents higher early, this time with support
from the bean oil side of the market after spot palm oil prices reached another
new four-year high overnight. Trading in corn and wheat was quiet with prices
staying close to Monday's closes.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed up 45.82 points at
19,216.24 on Monday. The NASDAQ Composite was up 53.24 points to 5,308.89, and
the S&P 500 was up 12.76 points to close at 2,204.71. DJIA futures are 5 points
higher early Tuesday. Asian markets are mostly higher with Japan's Nikkei up 86
points (0.5%), Hong Kong's Hang Seng Index is up 170 points (0.7%), and China's
Shanghai Composite is down 5 points (-.2%). European markets are mostly higher
Tuesday with London's FTSE 100 down 13 points (-.2%), Germany's DAX is up 10
points (0.1%), and France's CAC 40 is up 12 points (0.3%). Italy's FTSE MIB is
up 219 points (1.3%) in the aftermath of Sunday's vote. The U.S. dollar index
is up .14 at 100.23. Crude oil is down $0.30 at $51.49 while Brent crude is
down $0.12 at $54.82. February gold is down $3.10 at $1,173.40. February
Malaysian palm oil futures were up 1.5% overnight and soybeans at China's
Dalian exchange were mostly higher.
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