DTN Early Word Grains 08/05 05:52
Row Crops Lower Early Friday as Chinese Bullying Continues
December corn was down 3 1/2 cents, November soybeans were down 7 cents and
September KC wheat was down 2 cents.
DTN Lead Analyst
PRE-6 a.m. GLOBEX PRICES: December corn was down 3 1/2 cents, November
soybeans were down 7 cents and September KC wheat was down 2 cents.
CME GLOBEX RECAP: Early Friday, U.S. stocks on the Dow Jones Industrials are
slightly higher with the U.S. Labor Department ready to release its report on
U.S. unemployment for July at 7:30 a.m. CDT. The Wall Street Journal reported
second quarter earnings look good on the surface, but aside from big gains in
the energy sector, earnings are down 2% on the quarter. Several media sources
reported China continues to harass Taiwan and Japan Friday with warships and
jets conducting military exercises dangerously close to both countries.
OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial
Average down 85.68 at 32,726.82 and the S&P 500 down 3.23 at 4,151.94 as the
10-Year Treasury yield ended at 2.68%, near the lowest in over three months.
Early Friday, September Dow Jones futures are trading up 34 points. Asian
markets are higher with Japan's Nikkei 225 index up 0.87% and China's Shanghai
Composite Index up 1.19%. European markets are lower with the spot futures of
the London FTSE 100 trading down 0.23%, spot futures of Germany's DAX trading
down 0.07% and spot futures of France's CAC Index trading down 0.48%. The
September euro is down $0.0029 at $1.0252. The September U.S. Dollar Index is
up 0.28 at 105.85. The September 30-year T-bond is down 5/32nds, while August
gold is down $3.80 at $1,803.10 and September crude oil is up $0.35 at $88.89.
On China's Dalian exchange, September corn was up 0.2%, September soybeans were
up 0.9%, September soybean meal was up 2.1% and September soybean oil was down
1.6%. September Malaysian palm oil is trading up 2.1%.