DTN Grain Open: Wheat Moves Lower

    6:00 a.m. CME Globex: December corn was 1 cent higher, January soybeans were 2 cents higher, and December Chicago wheat was 1 cent lower.

    CME Globex Recap: Chicago markets were quiet overnight as the city spent more time celebrating a World Series win than watching markets. Still, it’s ironic that while the “W” flag flies high across the Windy City, the “W” market — wheat — is the one trading lower. On the other hand, corn and soybeans were both posting modest gains.

    Energies were also mostly higher with only natural gas continuing its sell-off. Gold is giving back much of Wednesday’s rally despite ongoing pressure in the U.S. dollar index.

    OUTSIDE MARKETS: The Dow Jones Industrial Average closed 77.46 points (0.4%) lower at 17,959.64, the NASDAQ Composite lost 48.01 points (0.9%) to 5,105.57, and the S&P 500 fell 13.78 points (0.6%) to close at 2,097.94 Wednesday. DJIA futures were 14 points higher overnight.

    Asian markets were mostly lower with Japan’s Nikkei closed for holiday, Hong Kong’s Hang Seng Index off 126.99 points (0.6%), and China’s Shanghai Composite gaining 26.20 points (0.8%). European markets were mostly higher Thursday with London’s FTSE 100 up 6.55 points, Germany’s DAX off 4.95 points, and France’s CAC 40 gaining 17.37 points (0.4%).

    The U.S. dollar index was 0.143 lower at 97.255. Crude oil added $0.27 to $45.61 while Brent crude gained $0.34 to $47.20. December gold was $15.50 lower at $1,292.70. China’s Dalian soybean futures were lower while Malaysian palm oil futures were higher overnight.

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