DTN Early Word Grains 04/15 05:57
Tuesday Not Expected to be a Taxing Day for Grains
Corn futures are lower at 6 a.m. CST; soybeans higher; wheat higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: July Corn 3 cents lower, July Soybeans 5 cents higher,
and July Kansas City Wheat 3 cents higher.
CME Globex Recap: Grain contracts were relatively quiet overnight with corn
contracts trading within a 4-cent range, Kansas City wheat ranging less than 6
cents, and soybeans 10 cents. There was little fresh news to provided direction
outside of continued commercial buying in soybeans. Outside commodities were
lower with both gold and crude oil posting sharp losses.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 146.49 points higher
Monday at 16,026.75. Dow Jones Industrial Average futures were 3 points higher
overnight, indicating light buying interest could be seen early Tuesday. Asian
markets were mixed with the Nikkei up 86.65 points at 13,996.81. European
markets were lower. The overnight crude oil market was $1.00 lower at $103.05
while Brent crude was $0.61 lower at $108.46. The June gold contract was $18.20
lower at $1,309.30 while the U.S. dollar index is 0.087 higher at 79.845.
Soybeans at the Dalian Exchange were higher while Malaysian palm oil futures
were also higher.
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