Grains Storm Higher Overnight

July 30th, 2012


Category: Grains

(CME Group) – CME Globex Recap: Grains opened the CME Globex session higher and maintained
those gains through early Monday morning. Disappointing rains over the weekend
and forecasts calling for the return of much above normal temperatures sparked
the rally. Outside markets were mixed to bearish with the U.S. dollar index
higher and commodities mixed.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 187.73 points higher
Friday at 13,075.66. The overnight session saw the Dow Jones futures trade 36
points lower, indicating the market could see selling interest early Monday.
Asian markets were mostly higher with the Nikkei up 68.80 points at 8,635.44.
European markets were also mostly higher. The overnight crude oil market was
$0.08 higher at $90.21 while Brent crude was $0.19 lower at $106.28. The
December gold contract was $.40 higher at $1,623.10 while the U.S. dollar index
is 0.137 higher at 82.846. Soybeans at the Dalian exchange were higher while
Malaysian palm oil futures were also higher.

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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.

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