DTN Early Word Grains 05/17 06:07
Grains Mostly Higher Early Friday
Corn futures are higher, soybeans higher, and wheat lower at 6 a.m. CDT.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: Corn 2 cents higher, soybeans 10 cents higher, and
wheat 1 cent lower.
CME Globex Recap: The soybean market extended its uptrend during the CME
Globex overnight session. Corn contracts climbed quietly higher, while wheat
remains under pressure. Most outside commodities were higher despite the
continued rally in the U.S. dollar index. One exception was gold, as it built
on Thursday's sell-off to post another solid loss.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 42.47 points lower
Thursday at 15,233.22. The overnight session saw the Dow Jones futures trade 36
points higher, indicating U.S. stocks could see renewed buying interest Friday.
Asian markets were mostly higher with the Nikkei up 100.88 points at 15,138.12.
European markets were also mostly higher. The overnight crude oil market was
$0.38 higher at $95.54 while Brent crude was $0.66 higher at $104.44. The June
gold contract was $6.70 lower at $1,380.20 while the U.S. dollar index is 0.224
higher at 83.812. Soybeans at the Dalian Exchange were higher while Malaysian
palm oil contracts were also higher.
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