DTN Early Word Grains 08/03 06:13
Grains Mixed to Begin August
December corn is down 1/2 cent per bushel, November soybeans are up 4 1/4
cents, and September KC wheat is down 6 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: December corn is down 1/2 cent per bushel,
November soybeans are up 4 1/4 cents, and September KC wheat is down 6 cents.
CME Globex Recap: Global equities are steady to higher to begin the week and
the month of August. The biggest headline over the weekend was the potential
banning of social media app TikTok by the Trump Administration in the United
States, potentially leaving thousands of social media influencers out of work.
Energy markets are weaker overnight with crude oil slipping back below $40.00
per barrel as resistance at that price level remains intact. Precious metals
are higher overnight with gold futures continuing to make new highs for the
move. Gold has only seen one lower close in the last 12 sessions. Grains are
mixed to weaker overnight with corn and wheat softer while soybeans post gains.
Weather and Chinese buying will remain the focus this week as conditions look
ideal for much of the Midwest while bulls will be counting on additional
tonnage being sold to the world's second largest economy.
OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial
Average up 114.67 at 26,428.32 and the S&P 500 up 24.90 at 3,246.22 while the
10-Year Treasury yield ended at 0.536%. Early Monday, the September DJIA
futures are down 0 points. Asian markets are higher with Japan's Nikkei 225 up
485.38 (2.24%) and China's Shanghai Composite up 57.96 points (1.75%). European
markets are higher with London's FTSE 100 up 8.17 points (0.14%), Germany's DAX
up 164.07 points (1.33%) and France's CAC 40 up 18.18 points (0.38%). The
September Euro is down 0.005 at 1.180 and the September U.S. dollar index is up
0.309 at 93.630. The September 30-Year T-Bond is down 11/32nds, while December
gold is up $0.80 at $1,986.70 and September crude oil is down $0.51 at $39.76.
Soybeans on China's Dalian Exchange were up 0.27% while soybean meal was down
For more free DTN information sent right to your email each morning - click here
to sign up for DTN Snapshot.