DTN Early Word Grains 07/27 05:57
Grains Continue Early Week Rebound
December corn is up 5 3/4 cents per bushel, November soybeans are up 14 1/2
cents, and September KC wheat is up 1 cent.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: December corn is up 5 3/4 cents per bushel,
November soybeans are up 14 1/2 cents, and September KC wheat is up 1 cent.
CME Globex Recap: Weaker equity trade overnight with losses particularly
large in China as their main bourse traded nearly 2.5% lower. Chinese
regulators have ordered the country's internet giants to fix certain
anticompetitive practices and data security threats, creating concerns
throughout the country of what industry might be next. Elsewhere, Senators in
Washington have been unable to reach an agreement on infrastructure spending
ahead of Monday's target. Energy markets are firmer overnight while the U.S.
Dollar Index is just above unchanged. Metals markets are weaker across the
board. Grain markets are mostly higher overnight with gains led by the row
crops and soybean meal while Chicago wheat is the lone contract in negative
territory. Rangebound trade continues with weather subjective enough to support
OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial
Average up 82.76 at 35,144.31 and the S&P 500 up 10.51 at 4,411.79 while the
10-Year Treasury yield ended at 1.276%. Early Tuesday, the September DJIA
futures are down 120 points. Asian markets are mixed with Japan's Nikkei 225 up
136.93 (0.49%) and China's Shanghai Composite down 86.26 points (-2.49%).
European markets are lower with London's FTSE 100 down 33.33 points (-0.47%),
Germany's DAX down 82.34 points (-0.53%) and France's CAC 40 down 21.18 points
(-0.32%). The September Euro is down 0.002 at 1.180 and the September U.S.
dollar index is up 0.089 at 92.740. The September 30-Year T-Bond is up
17/32nds, while August gold is down $2.00 at $1,797.20 and September crude oil
is up $0.01 at $71.92. Soybeans on China's Dalian Exchange were up 0.42% while
soybean meal was down 0.17% and corn was up 0.67%.
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