DTN Early Word Grains 09/21 05:54
December corn was fractionally lower, November soybeans were 7 cents lower,
and December Chicago (SRW) wheat was 1 cent lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was fractionally lower, November soybeans
were 7 cents lower, and December Chicago (SRW) wheat was 1 cent lower.
CME Globex Recap: Following Wednesday's close, particularly in soybeans, it's
not overly surprising the grain and oilseed complex is showing red early
Thursday morning. In other news, Wednesday's announcement by the Federal
Reserve that interest rates will likely rise in December had gold on the
defensive to the tune of roughly $17. The energy complex was also under
pressure despite a slightly weaker U.S. dollar.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 41.79 points (0.2%)
higher at 22,412.59, the NASDAQ Composite lost 5.28 points (0.1%) to 6,456.04,
and the S&P 500 gained 1.59 points to 2,508.24 Wednesday. DJIA futures were 13
points lower early Thursday morning. Asian markets closed mostly lower with
Japan's Nikkei up 37.02 points (0.2%), Hong Kong's Hang Seng off 17.47 points,
and China's Shanghai Composite down 8.18 points (0.2%). European markets were
trading mostly higher with London's FTSE 100 up 6.14 points, Germany's DAX
gaining 40.31 points (0.3%), and France's CAC 40 rallying 28.82 points (0.5%).
The euro was 0.0018 higher at 1.1912 while the U.S. dollar index dipped 0.04 to
92.41. December 30-year T-Bonds were 2/32 higher at 153'26 while December gold
lost $17.80 to $1,298.60. Crude oil was $0.19 lower at $50.50 while Brent crude
slipped $0.15 to $56.14. China's Dalian soybean futures were mixed and
Malaysian palm oil futures were lower overnight.
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