DTN Early Word Grains 08/17 05:55

DTN Early Word Grains 08/17 05:55
Rain Makes Green

December corn was 1 cent higher, November soybeans were 8 cents higher, and
December Chicago (SRW) wheat was fractionally higher.

By Darin Newsom
DTN Senior Analyst

6:00 a.m. CME Globex: December corn was 1 cent higher, November soybeans were
8 cents higher, and December Chicago (SRW) wheat was fractionally higher.

CME Globex Recap: After another round of storms rolled across the western
Midwest Wednesday, grain and oilseed markets were in the green overnight into
Thursday morning. This despite another factor that tends to be bearish, a
higher U.S. dollar index. In fact most commodity sectors were higher early
Thursday with only energies under pressure. DJIA futures were also showing a
small loss.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 25.88 points (0.1%)
higher at 22,024.87, the NASDAQ Composite gained 12.10 points (0.2%) to
6,345.11, and the S&P 500 added 3.50 points (0.1%) to 2,468.11 Wednesday. DJIA
futures were 17 points lower early Thursday morning. Asian markets closed mixed
with Japan’s Nikkei down 26.65 points (0.1%), Hong Kong’s Hang Seng falling
64.85 points (0.2%) and China’s Shanghai Composite gaining 21.98 points (0.7%).
European markets were trading mostly lower with London’s FTSE 100 down 21.11
points (0.3%), Germany’s DAX losing 19.20 points (0.1%), and France’s CAC 40
off 4.11 points. The euro was 0.0066 lower at 1.1702 while the U.S. dollar
index rallied 0.38 to 93.85. September 30-year T-Bonds were 9/32 lower at
154’25 while December gold added $7.70 to $1,290.60. Crude oil was $0.13 lower
at $46.65 while Brent crude lost $0.07 to $50.20. China’s Dalian soybean and
Malaysian palm oil futures were both higher overnight.