DTN Early Word Grains 11/21 05:55
Another Quiet Morning
December corn was 1 cent lower, January soybeans were 2 cents lower, and
December Chicago (SRW) was unchanged.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: December corn was 1 cent lower, January soybeans were 2
cents lower, and December Chicago (SRW) was unchanged.
CME Globex Recap: The grain and oilseed complex was relatively quiet
overnight, again, with the fireworks of the previous session's selling in
Malaysian palm oil seemingly spent. While the market was lower once again,
Chicago bean oil was able to climb and canola was mixed. Soybeans and corn were
lower and the wheat complex was mixed early Tuesday. Other commodities were
mostly higher, led by gains in both crude oil and gold.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 72.09 points (0.3%)
higher at 23,430.33, the NASDAQ Composite gained 7.92 points (0.1%) to
6,790.71, and the S&P 500 rallied 3.29 points (0.1%) to 2,582.14 Monday. DJIA
futures were 53 points higher early Tuesday morning. Asian markets closed
higher with Japan's Nikkei 225 up 154.72 points (0.7%), Hong Kong's Hang Seng
gaining 557.76 points (1.9%), and China's Shanghai Composite up 18.10 points
(0.5%). European markets were trading higher with London's FTSE 100 up 16.04
points (0.2%), Germany's DAX rallying 61.50 points (0.5%), and France's CAC 40
adding 23.48 points (0.4%). The euro was 0.0005 lower at 1.1727 while the U.S.
dollar index gained 0.04 to 94.10. December 30-year T-Bonds were 17/32 higher
at 154'06 while December gold gained $3.90 to $1,279.20. Crude oil was $0.11
higher at $56.53 while Brent crude added $0.13 to $62.35. China's Dalian
soybean futures were higher and Malaysian palm oil futures were lower
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