DTN Early Word Grains 05/24 06:03
Grains Mostly Lower Early Friday
Corn futures are lower, soybeans lower, and wheat higher at 6 a.m. CDT.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: Corn 2 cents lower, soybeans 4 cents lower, and wheat 3
CME Globex Recap: Grains were quietly mixed early Friday morning, with corn
and soybeans stabilizing from earlier trade. Soybeans posted a double-digit
sell-off during the overnight session before moving back to near unchanged.
Corn held in a narrow 3-cent range for the session. Wheat contracts were near
the midpoint of the overnight trading range, supported by continued pressure in
the U.S. dollar index.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 12.67 points lower
Thursday at 15,294.50. The overnight session saw the Dow Jones futures trade 31
points lower, indicating U.S. stocks could see continued selling interest
Friday. Asian markets were mostly higher with the Nikkei up 128.47 points at
14,612.45. European markets were mostly lower. The overnight crude oil market
was $0.38 lower at $93.87 while Brent crude was $0.12 lower at $102.32. The
June gold contract was $6.20 lower at $1,385.60 while the U.S. dollar index is
0.295 lower at 83.501. Soybeans at the Dalian Exchange were lower while
Malaysian palm oil contracts were higher.
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