DTN Early Word Grains 08/10 06:45
Wheat Prices Nudging Higher With Consumer Prices on Deck
December corn was up 3 1/2 cents, November soybeans were up 9 cents and
September KC wheat was up 10 cents.
DTN Lead Analyst
PRE-6 a.m. GLOBEX PRICES: December corn was up 3 1/2 cents, November
soybeans were up 9 cents and September KC wheat was up 10 cents.
CME GLOBEX RECAP: Early Wednesday, U.S. stocks on the Dow Jones Industrials
are trading higher with the Labor Department set to release the consumer price
index for July at 7:30 a.m. CDT. According to Reuters, Russia attacked a city
in central Ukraine overnight with a force that the British Defense Ministry
said is new to the region. Meanwhile, Chinese military exercises and patrols
continue to harass Taiwan. RTTNews.com reported inflation in China hit a
two-year high of 2.7% in July from a year ago with pork prices up 20.2% from a
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average down 58.13 at 32,774.41 and the S&P 500 down 17.59 at 4,122.47 as the
10-Year Treasury yield ended at 2.80%, near the lowest in over three months.
Early Wednesday, September Dow Jones futures are trading up 58 points. Asian
markets are lower with Japan's Nikkei 225 index down 0.65% and China's Shanghai
Composite Index down 0.54%. European markets are mixed with the spot futures of
the London FTSE 100 trading down 0.09%, spot futures of Germany's DAX trading
up 0.16% and spot futures of France's CAC Index trading up 0.06%. The September
euro is up $0.0015 at $1.0248. The September U.S. Dollar Index is down 0.17 at
106.08. The September 30-year T-bond is up 13/32nds, while August gold is down
$4.10 at $1,808.20 and September crude oil is down $0.58 at $89.92. On China's
Dalian exchange, September corn was up 0.9%, September soybeans were up 0.8%,
September soybean meal was up 0.7% and September soybean oil was up 0.7%.
September Malaysian palm oil is trading down 0.3%.