DTN Grain Open: Markets Still Under Pressure

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6:00 a.m. CME Globex: December corn was down 1 1/4 cents, November soybeans were down 4 1/4 cents, and September Kansas City (HRW) wheat was down 4 1/2 cents.

CME Globex Recap: European stock markets are mixed and China’s stock market is a little lower after China’s GDP was up 6.7% in the second quarter from a year ago, slightly lower than first quarter growth, reported CNBC.com. The September U.S. dollar index is a little lower and outside commodities are mixed, but the grain sector is mostly lower with more moderate temperatures expected across the Midwest this week.

OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 94.52 points at 25,019.41 and the S&P 500 up 3.02 points at 2,801.31 while the 10-year Treasury yield ended at 2.83%. Early Friday, DJIA futures were up 13 points.

Asian markets are lower with Japan’s Nikkei 225 on holiday and China’s Shanghai Composite down 17.14 (-0.6%). European markets are mixed with London’s FTSE 100 down 1.67 points (-0.02%), Germany’s DAX up 30.60 points (0.2%), and France’s CAC 40 up 0.93 points (0.02%).

The euro was up .0026 and the U.S. dollar index was down 0.12 at 94.56. September 30-year T-Bonds were down 4/32nds while August gold was up $3.10 at $1,244.30 and August crude oil was down $0.93 at $70.08. Soybeans on China’s Dalian Exchange were steady to lower and Malaysian palm oil futures were up 1.0%.

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