DTN Early Word Grains 08/06 05:58
Grains Weak as Weather Mostly Beneficial
December corn is down 3/4 cent per bushel, November soybeans are down 2 1/2
cents, and September KC wheat is down 3 3/4 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: December corn is down 3/4 cent per bushel,
November soybeans are down 2 1/2 cents, and September KC wheat is down 3 3/4
CME Globex Recap: Equities are mixed around the globe overnight with the
U.S. quiet ahead of weekly jobless claims later Thursday morning. There is
still no deal on the next round of stimulus between Democrats and Republicans
with President Trump threatening executive action to extend unemployment
benefits and the eviction shield as well as suspending the payroll tax. Energy
markets are mixed overnight but inside recent ranges. The U.S. Dollar Index is
weaker and within striking distance of recent lows while precious metals are
higher. Gold is just below Wednesday's record high of $2070.30. Grains are
weaker across the board with some charts beginning to show technical breakdown.
August is not a strong month from a seasonal perspective for corn or soybeans
and that fact is playing out the first four sessions of the month.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones
Industrial Average up 373.05 at 27,201.52 and the S&P 500 up 21.26 at 3,306.51
while the 10-Year Treasury yield ended at 0.543%. Early Thursday, the September
DJIA futures are up 53 points. Asian markets are mixed with Japan's Nikkei 225
down 96.7 (-0.43%) and China's Shanghai Composite up 8.9 points (0.26%).
European markets are lower with London's FTSE 100 down 82.74 points (-1.36%),
Germany's DAX down 12.2 points (-0.1%) and France's CAC 40 down 30.31 points
(-0.61%). The September Euro is down 0.001 at 1.190 and the September U.S.
dollar index is down 0.005 at 92.845. The September 30-Year T-Bond is up
7/32nds, while December gold is up $13.40 at $2,062.70 and September crude oil
is down $0.25 at $41.94. Soybeans on China's Dalian Exchange were down 0.47%
while soybean meal was down 1.25%.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up