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DTN Early Word Grains 06/19 06:06
Grains Mixed In Quiet Overnight Trade
Corn futures are lower, soybeans higher and wheat lower at 6 a.m. CDT.
By Todd Hultman
DTN Analyst
6:00 a.m. CME Globex: December corn 2 cents lower, November soybeans 1 1/4
cents higher, and July wheat 1 1/2 cents lower.
CME Globex Recap: Grains are mixed early Wednesday after quiet trading
overnight. The latest seven-day forecast expects 1 1/2 to 2 1/2 inches of rain
over Iowa, Minnesota, and Wisconsin starting Thursday, not good news for
producers waiting to plant soybeans. Crude oil and gold are steady to higher
with EIA crude oil inventory data at 9:30 a.m. CDT and Wednesday's Federal
Reserve statement at 1 p.m.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 138.38 points higher
Monday at 15,318.23. The overnight session has the Dow Jones futures trading 16
points higher early Wednesday, indicating higher prices for U.S. stocks later
Wednesday morning. Asian markets were higher with the Nikkei up 5 points at
13,345. European markets were also higher. The overnight crude oil market was
$0.45 higher at $99.12 while Brent crude was $0.47 higher at $106.49. The
August gold contract was $.60 higher at $1,367.50 while the U.S. dollar index
is 0.06 higher at 80.81. Soybeans at the Dalian Exchange were lower while
Malaysian palm oil contracts were modestly higher.
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