DTN Early Word Grains 05/22 06:06
Grains Quietly Mixed Early Wednesday
Corn futures are steady, soybeans lower, and wheat higher at 6 a.m. CDT.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: Corn unchanged, soybeans 3 cents lower, and wheat 3
CME Globex Recap: Grains posted a quiet overnight session with corn and wheat
trading within 5-cent ranges. Soybeans rallied early before running out of
buying interest, allowing the market to drift lower. Outside markets were also
mixed with the U.S. dollar index and energies lower while Dow Jones Industrial
Average futures and metals are higher.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 52.30 points higher
Tuesday at 15,387.58. The overnight session saw the Dow Jones futures trade 17
points higher indicating US stocks could see continued buying interest
Wednesday. Asian markets were mixed with the Nikkei up 246.24 points at
15,627.26. European markets were mostly lower. The overnight crude oil market
was $0.62 lower at $95.56 while Brent crude was $0.76 lower at $103.14. The
June gold contract was $7.10 higher at $1,384.70 while the U.S. dollar index is
0.070 lower at 83.794. Soybeans at the Dalian Exchange were mixed while
Malaysian palm oil contracts were higher.
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