DTN Early Word Grains 04/22 05:53
Grains See Early "Turnaround Tuesday"
Corn futures are higher at 6 a.m. CST; soybeans higher; wheat higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: July Corn 4 cents higher, July Soybeans 8 cents higher,
and July Kansas City Wheat 5 cents higher.
CME Globex Recap: A lack of fresh headlines out of Ukraine neutralized
Monday's catalyst for a sell-off, allowing the wheat market to turn its
attention back to weather. The 5-cent rally in winter wheat helped to support
the corn market, with most contracts up about 4 cents early Tuesday. Soybeans
were also higher with old-crop up almost 5 cents while new crop was 3 cents
higher. Outside commodities were mostly lower despite selling in the U.S.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 40.71 points higher
Monday at 16,449.25. Dow Jones Industrial Average futures were 3 points higher
overnight, indicating light buying interest could be seen early Tuesday. Asian
markets were mostly higher though the Nikkei was down 123.61 points at
14,388.77. European markets were higher. The overnight crude oil market was
$0.38 lower at $103.99 while Brent crude was $0.49 lower at $109.46. The June
gold contract was $2.30 higher at $1,290.80 while the U.S. dollar index is
0.090 lower at 79.862. Soybeans at the Dalian Exchange were lower while
Malaysian palm oil futures were higher.
DTN offers additional daily information available free through DTN Snapshot – sign up