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DTN Grain Open: Soybeans Stay Strong

Ernst Undesser
By Darin Newsom DTN Senior Analyst December 6, 2017

DTN Grain Open: Soybeans Stay Strong

Soybean harvest. ©Debra L Ferguson

6:00 a.m. CME Globex: March corn was 2 cents higher, January soybeans were 4 cents higher, and March Chicago (SRW) was fractionally lower.

CME Globex Recap: Though the last two day sessions have seen soybeans fall back from highs at the close, the market rallied again overnight. Spillover buying provided support to corn and spring wheat while winter wheat markets drifted lower.

Other commodity sectors were under mixed with softs mostly lower (cotton was higher), energies were lower, and metals were higher early Wednesday. Both the U.S. dollar and DJIA futures were lower overnight, the latter following-through on the Big Board’s triple-digit sell-off from Tuesday.

OUTSIDE MARKETS: Though the last two day sessions have seen soybeans fall back from highs at the close, the market rallied again overnight. Spillover buying provided support to corn and spring wheat while winter wheat markets drifted lower.

Other commodity sectors were under mixed with softs mostly lower (cotton was higher), energies were lower, and metals were higher early Wednesday. Both the U.S. dollar and DJIA futures were lower overnight, the latter following-through on the Big Board’s triple-digit sell-off from Tuesday.

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Ernst Undesser
By Darin Newsom DTN Senior Analyst December 6, 2017