DTN Early Word Grains 08/19 05:51
Wheat a Little Higher as Rain Path Shifts South
Early Globex Prices: December corn was down 2 cents, November soybeans were
down 12 cents and September KC wheat was up 2 1/2 cents.
DTN Lead Analyst
PRE-6 A.M. GLOBEX PRICES: December corn was down 2 cents, November soybeans
were down 12 cents and September KC wheat was up 2 1/2 cents.
CME GLOBEX RECAP: Early Friday, U.S. stock futures on the Dow Jones
Industrials are trading lower, in line with overnight prices in Europe and Asia
as investors continue to have concerns about economic slowing around the world.
According to RTTNews.com, producer prices in Germany were up 37% in July from a
year ago, a new record high and largely driven by higher energy costs, a
serious concern for all of Europe this winter. USDA's Cattle on Feed report for
Aug. 1 is set for release at 2 p.m. CDT.
OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average up 18.72 at 33,999.04 and the S&P 500 up 9.70 at 4,283.74 as the
10-Year Treasury yield ended at 2.88%, up from its lowest rate in four months.
Early Friday, September Dow Jones futures are trading down 210 points. Asian
markets are lower with Japan's Nikkei 225 Index down 0.04% and China's Shanghai
Composite Index down 0.59%. European markets are lower with the spot futures of
the London FTSE 100 trading down 0.21%, spot futures of Germany's DAX trading
down 0.77% and spot futures of France's CAC Index trading down 0.53%. The
September euro is down $0.0009 at $1.0101. The September U.S. Dollar Index is
up 0.23 at 107.65. The September 30-year T-bond is down 22/32nds, while
December gold is down $4.40 at $1,766.80 and September crude oil is down $0.96
at $89.54. On China's Dalian exchange, January corn was down 0.6%, September
soybeans were up 0.2%, January soybean meal was up 0.2% and January soybean oil
was down 0.6%. November Malaysian palm oil is trading up 1.7%.
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