DTN Early Word Grains 04/24 05:58
Grains Trading Quietly Early Thursday
Corn futures are higher at 6 a.m. CST; soybeans lower; wheat lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: July Corn fractionally higher, July Soybeans 1 cent
lower, and July Kansas City Wheat 1 cent lower.
CME Globex Recap: Grain markets tried to rally early in the overnight
session, but most contracts had drifted lower by early Thursday morning. Light
pressure in both wheat and soybeans was seen, while corn held near unchanged.
Outside commodities were mostly higher though gold continues to find light
selling interest. The U.S. dollar index was lower again while DJIA futures
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 12.72 points lower
Wednesday at 16,501.65. Dow Jones Industrial Average futures were 34 points
higher overnight, indicating renewed buying interest could be seen Thursday.
Asian markets were mixed with the Nikkei down 141.28 points at 14,404.99.
European markets were also mixed. The overnight crude oil market was $0.16
higher at $101.60 while Brent crude was $0.12 higher at $109.23. The June gold
contract was $0.60 lower at $1,284.00 while the U.S. dollar index is 0.066
lower at 79.794. Soybeans at the Dalian Exchange were higher while Malaysian
palm oil futures were lower.
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