DTN Early Word Grains 07/31 05:58
Grains Higher to Close Week, Month
December corn is up 1 1/4 cents per bushel, November soybeans are up 5
cents, and September KC wheat is up 4 1/2 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: December corn is up 1 1/4 cents per bushel,
November soybeans are up 5 cents, and September KC wheat is up 4 1/2 cents.
CME Globex Recap: CME Globex Recap: Global equity markets are quietly mixed
overnight with competing headlines giving investors pause heading into the
weekend. China is seeing a resurgence of coronavirus cases at the same time the
United States is trying to manage a restart with schools next month. Energy
markets are higher overnight as crude oil tries to claw back some of the losses
posted Thursday following the release of disappointing GDP data. The U.S.
Dollar Index is weaker overnight, working on its third consecutive lower close.
Gold is making new all-time highs overnight while silver consolidates. Grains
are firmer across the board overnight, led by winter wheat contracts. Bulls and
bears continue to argue weather vs. Chinese demand but so far, bears seem to
have the edge. Yield ideas are moving higher and weather looks non-threatening
OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial
Average down 225.92 at 26,313.65 and the S&P 500 down 12.22 at 3,258.44 while
the 10-Year Treasury yield ended at 0.541%. Early Friday, the September DJIA
futures are up 46 points. Asian markets are mixed with Japan's Nikkei 225 down
629.23 (-2.82%) and China's Shanghai Composite up 23.18 points (0.71%).
European markets are mixed with London's FTSE 100 down 8.19 points (-0.14%),
Germany's DAX up 44.21 points (0.36%) and France's CAC 40 up 3.15 points
(0.06%). The September Euro is up 0.002 at 1.190 and the September U.S. dollar
index is down 0.199 at 92.810. The September 30-Year T-Bond is up 7/32nds,
while August gold is up $28.90 at $1,971.20 and September crude oil is up $0.18
at $40.10. Soybeans on China's Dalian Exchange were up 1.23% while soybean meal
was down 0.17%.
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