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DTN Early Word Grains 08/07 05:56

8/7/2020 - 06:28:00

DTN Early Word Grains         08/07 05:56
   Grains Mixed to Lower to Close the Week

   December corn is up 1/4 cent per bushel, November soybeans are down 2 1/4
cents, and September KC wheat is up 1 1/2 cents.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices: December corn is up 1/4 cent per bushel, November
soybeans are down 2 1/4 cents, and September KC wheat is up 1 1/2 cents.

   CME Globex Recap: Global equities are mostly lower overnight with the U.S.
staring at a lower open ahead of the latest jobs data later Friday morning. The
July payroll data is expected to show an increase of 1.5 million jobs which
would be a slowdown from the 4.8 million added in June and 2.7 million added in
May. Energy markets are weaker overnight with the spot contract unable to push
through the 200-day moving average so far. The U.S. Dollar Index is higher
overnight but mostly consolidating near recent lows. Precious metals are
slightly weaker overnight. Grain markets are mixed overnight with wheat showing
strength while row crops are steady to lower. Ideas of growing supply continue
to more than offset strong demand on the export front. Until the market gets
past the August WASDE, it will be difficult to move the focus off yield.

   OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial
Average up 185.46 at 27,386.98 and the S&P 500 up 21.39 at 3,327.77 while the
10-Year Treasury yield ended at 0.536%. Early Friday, the September DJIA
futures are down 134 points. Asian markets are lower with Japan's Nikkei 225
down 88.21 (-0.39%) and China's Shanghai Composite down 32.43 points (-0.96%).
European markets are lower with London's FTSE 100 down 6.62 points (-0.11%),
Germany's DAX down 9.6 points (-0.08%) and France's CAC 40 down 21.16 points
(-0.43%). The September Euro is down 0.006 at 1.180 and the September U.S.
dollar index is up 0.422 at 93.190.  The September 30-Year T-Bond is up
4/32nds, while December gold is down $1.80 at $2,067.60 and September crude oil
is down $0.38 at $41.57. Soybeans on China's Dalian Exchange were up 0.58%
while soybean meal was down 0.28%.