DTN Early Word Grains 08/16 05:56
Soybeans Show Early Hope for Trade Resolution
December corn was up 2 3/4 cents, November soybeans were up 16 3/4 cents,
and September Chicago wheat was up 6 3/4 cents.
By Todd Hultman
6:00 a.m. CME Globex: December corn was up 2 3/4 cents, November soybeans
were up 16 3/4 cents, and September Chicago wheat was up 6 3/4 cents.
CME Globex Recap: Dow Jones futures rebounded from Wednesday's deepest losses
by the close and are pointing to a higher opening early Thursday. Potential
debt problems in Turkey remain a concern as does this year's trend of rising
tariffs, but soybeans and several commodities are starting higher with news
that a Chinese delegation will visit the U.S. later in August.
OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial
Average down 137.51 points at 25,162.41 and the S&P 500 down 21.59 points at
2,818.37 while the 10-year Treasury yield ended at 2.85%. Early Thursday, DJIA
futures were up 112 points. Asian markets are lower with Japan's Nikkei 225
down 12.18 (-0.05%) and China's Shanghai Composite down 18.07 (-0.7%). European
markets are modestly higher with London's FTSE 100 up 41.65 points (0.6%),
Germany's DAX up 36.32 points (0.3%), and France's CAC 40 up 23.33 points
(0.4%). The euro was up .0020 and the U.S. dollar index was down 0.12 at 96.59.
September 30-year T-Bonds were down 13/32nds while December gold was up $1.40
at $1,186.40 and September crude oil was up $0.07 at $65.08. Soybeans on
China's Dalian Exchange were lower and Malaysian palm oil futures were up 0.3%.
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