DTN Early Word Grains 07/29 05:57
Another Month Bites the Dust
December corn was 2 cents lower, November soybeans were 8 cents lower, and
September Chicago wheat was 4 cents lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was 2 cents lower, November soybeans were
8 cents lower, and September Chicago wheat was 4 cents lower.
CME Globex Recap: Friday marks the end of the week and end of the trading
month, sometimes a combination that leads to market weirdness. However, grains
are acting fairly normal to start the day with the complex in general trading
lower. Outside commodities were also lower despite a continued sharp sell-off
by the U.S. dollar index.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 15.82 points lower
at 18,456.35 the NASDAQ Composite gained 15.17 points to 5,154.98, and the S&P
500 rallied 3.48 points to close at 2,170.06 Thursday. DJIA futures were 24
points lower overnight. Asian markets were mostly lower though Japan's Nikkei
gained 92.43 points (0.6%) after the Bank of Japan left its interest rates
unchanged in negative territory. China's Shanghai Composite slipped 14.98
points (0.5%). European markets were mixed with London's FTSE 100 down 15.52
points (0.2%), Germany's DAX was 50.91 points (0.5%) higher, and France's CAC
40 gained 6.56 points (0.1%). The U.S. dollar index fell another 0.485 to
96.254. Crude oil lost $0.25 to $40.89 while Brent crude was $0.53 lower at
$42.17. December gold was $0.80 lower at $1,340.40. China's Dalian soybean
futures were lower while Malaysian palm oil futures were higher overnight.
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