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DTN Early Word Grains 09/09 07:18
Grains Mostly Lower at 7:15 a.m. CDT
Corn futures are expected to open 1 to 2 lower as of 7:15 a.m. CDT; soybeans
10 to 12 lower; wheat 1 to 2 higher.
By Darin Newsom
DTN Senior Analyst
General Opening Call 7:15 a.m. CDT: Corn 1 to 2 lower, Soybeans 10 to 12
lower, Wheat 1 to 2 higher.
7:15 AM e-CBOT: Corn 1 3/4 lower (December), Soybeans 11 1/2 lower (November),
Wheat 1 1/4 higher (Chicago December).
GENERAL OPENING CALL at 6 a.m. CDT: Corn 1 to 2 lower, Soybeans 9 to 11
lower, Wheat 1 to 2 higher.
6:00 AM e-CBOT Corn 1 3/4 lower (December), Soybeans 10 3/4 lower (November),
Wheat 1 higher (Chicago December). Corn and soybeans came under pressure
overnight from noncommercial selling in front of Friday's USDA and WASDE
reports. Soybeans saw additional pressure from lower global oilseed markets.
Wheat contracts were modestly higher in light activity with light support
coming from outside markets.
OUTSIDE MARKETS The Dow Jones Industrial Average closed 46.32 points higher
Wednesday at 10,387.01. The overnight session saw the Dow Jones futures trade
28 points higher, indicating the market could see continued buying interest
Thursday. Asian markets were mostly higher with the Nikkei up 73.79 points at
9,098.39. European markets were higher. The overnight crude oil market was $.40
higher at $75.07. Brent crude was $.04 higher at $78.21. The December gold
contract was $2.00 lower at $1,255.50 while the U.S. dollar index is 0.029
higher at 82.587. Soybeans at the Chinese Dalian Commodity Exchange were lower
while the Malaysian palm oil market was also lower.
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