DTN Early Word Grains 08/04 05:59
Grains Weaker on Solid Conditions, Weather
December corn is down 3 cents per bushel, November soybeans are down 4 1/4
cents, and September KC wheat is down 2 cents.
DTN Contributing Analyst
Pre-6 a.m. Globex Prices: December corn is down 3 cents per bushel, November
soybeans are down 4 1/4 cents, and September KC wheat is down 2 cents.
CME Globex Recap: Mixed trade in global stocks overnight with U.S. futures
quietly lower ahead of Tuesday's open. Investors continue to watch the
unfolding saga between the U.S. and China over the social media app TikTok and
what the longer term implications could be for other technology companies.
Energy markets are weaker overnight with spot crude sandwiched between the 50
and 200-day moving averages. The U.S. Dollar Index is slightly weaker overnight
while precious metals are higher but just below recent highs. Grain markets are
lower overnight with large private yield estimates weighing on corn and soybean
prices as the market awaits the USDA's first objective yield estimate next week.
OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial
Average up 236.08 at 26,664.40 and the S&P 500 up 23.49 at 3,271.12 while the
10-Year Treasury yield ended at 0.563%. Early Tuesday, the September DJIA
futures are down 21 points. Asian markets are higher with Japan's Nikkei 225 up
378.28 (1.7%) and China's Shanghai Composite up 3.72 points (0.11%). European
markets are mixed with London's FTSE 100 down 1.01 points (-0.02%), Germany's
DAX down 46.52 points (-0.37%) and France's CAC 40 up 13.41 points (0.28%). The
September Euro is up 0.004 at 1.180 and the September U.S. dollar index is down
0.207 at 93.300. The September 30-Year T-Bond is up 17/32nds, while December
gold is up $6.80 at $1,993.10 and September crude oil is down $0.52 at $40.49.
Soybeans on China's Dalian Exchange were up 0.15% while soybean meal was up
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