Your Eyes are Fine, Grains are Higher
Corn futures are higher, soybeans higher, and wheat higher at 6 a.m. CST.By Darin Newsom DTN Senior Analyst
6:00 a.m. CME Globex: Corn 8 cents higher, soybeans 10 cents higher, and wheat 8 cents higher.
CME Globex Recap: While the initial reaction of many Tuesday morning will be to rub their eyes again, grains are actually posting gains after trading higher throughout the CME Globex overnight session. Monday’s late rally off session lows led to a higher opening that was able to build momentum as the evening/morning progressed. Outside markets were mostly bullish with the US dollar index down slightly and DJIA futures rallying again.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 5.69 points lower Monday at 14,572.85. The overnight session saw the Dow Jones futures trade 36 points higher indicating US stocks could see renewed buying interest Tuesday. Asian markets were mixed with the Nikkei down 131.59 points at 12,003.43. European markets were mostly higher. The overnight crude oil market was $0.01 lower at $97.06 while Brent crude was $0.37 higher at $111.45. The June gold contract was $2.70 lower at $1,598.20 while the U.S. dollar index is 0.052 lower at 82.681. Soybeans at the Dalian Exchange were mostly lower while Malaysian palm oil futures were higher.DTN Early Word Grains 04/02 06:00 Your Eyes are Fine, Grains are Higher
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The risk of loss in trading futures and options can be substantial, therefore only genuine "risk" funds should be used in such trading. Futures and options may not be a suitable investment for all individuals and individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. Information herein has been obtained and prepared from sources believed to be reliable; however no guarantee to its accuracy is made. Comments contained in these materials are not intended to be a solicitation to buy or sell any of the commodities mentioned. Past performance is not indicative of future performance results. Opinions expressed herein are the opinions of the author only and not the opinion of any firm the author may be affiliated or associated with.
