Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Early Word Grains         07/07 05:41
   Grains Weaker as Focus Remains Weather

   September corn is down 3 1/2 cents per bushel, November soybeans are down 5
cents, and September KC wheat is down 1/2 cent.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices: September corn is down 3 1/2 cents per bushel,
November soybeans are down 5 cents, and September KC wheat is down 1/2 cent.

   CME Globex Recap: Global equities are mostly weaker with losses across
Europe and U.S. futures pointed at a lower open. Investors seem torn between
improving economic data and rising coronavirus cases, especially in states that
recently lifted lockdown measures and reversed course in recent days. The gains
in Chinese equities Monday lifted stocks globally, and would be fitting, if
they helped lead the global economy out of the downturn, considering the events
at the beginning of the year. Energy markets are weaker overnight but crude oil
has maintained strength above the $40 per barrel mark. In addition, spot
ethanol prices rallied to the highest level since Feb. 21 on Monday. Gold and
silver are both weaker overnight as the latter remains in consolidation mode.
Grains are mostly weaker overnight, led by corn and soybean oil after early
gains were relinquished Tuesday evening. Producer selling and a beneficial turn
in the weather forecasts remain the biggest risks to the corn and soybean
rallies continuing. A change in the models can occur every six hours, meaning
producers need to stay vigilant with their marketing.


   Previous closes on Monday showed the Dow Jones Industrial Average up 459.67
at 26,287.03 and the S&P 500 up 49.71 at 3,130.01 while the 10-year Treasury
yield ended at 0.684%. Early Tuesday, the September DJIA futures are down 279
points. Asian markets are mixed with Japan's Nikkei 225 down 99.75 (0.44%) and
China's Shanghai Composite up 12.46 points (0.37%). European markets are lower
with London's FTSE 100 down 79.71 points (1.27%), Germany's DAX down 174.56
points (1.37%) and France's CAC 40 down 61.27 points (1.21%). The September
euro is down 0.005 at 1.130 and the September U.S. Dollar Index is up 0.363 at
97.045. The September 30-year T-Bond is up 13/32nds, while August gold is down
$9.90 at $1,783.60 and August crude oil is down $0.57 at $40.06. Soybeans on
the China Dalian Exchange were down 0.86% while soybean meal was up 0.14%.
For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN