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DTN Early Word Grains         06/26 05:57
   Fat-Finger Freddy Strikes Again, Maybe

   December corn was 1 cent higher, November soybeans were 4 cents higher, and
July Kansas City (HRW) wheat was 7 cents lower.

By Darin Newsom
DTN Senior Analyst

6:00 a.m. CME Globex:   December corn was 1 cent higher, November soybeans were
4 cents higher, and July Kansas City (HRW) wheat was 7 cents lower.

CME Globex Recap:   The first thing that catches one's eye looking at market
early Monday is the sharp reversal in gold. After trading about $2.50 higher
Sunday evening, Monday morning finds that the August contract posted a low down
almost $20 from Friday's close. A quick search of the news finds only a
one-line message about a flash crash tied to a fat-fingered trade. The market
had stabilized near support at $1,231, and didn't seem to have an effect on any
other market than silver. As for grains, contracts did little after Sunday
evening's opening half-hour.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed 2.53 points lower at
21,394.76, the NASDAQ Composite gained 28.56 points (0.5%) to 6,265.25, and the
S&P 500 added 3.80 points (0.2%) to 2,438.30 Friday. DJIA futures were 66
points higher early Monday morning. Asian markets closed mostly higher with
Japan's Nikkei up 20.68 points (0.1%), Hong Kong's Hang Seng gaining 201.84
points (0.8%), and China's Shanghai Composite adding 27.57 points (0.9%).
European markets were trading higher with London's FTSE 100 up 52.77 points
(0.7%), Germany's DAX rallying 96.62 points (0.8%), and France's CAC 40 up
50.68 points (1.0%). The euro was lower at 1.1181 while the U.S. dollar index
was 0.09 higher at 97.39. September 30-year T-Bonds were 3/32 lower at 156'17
while August gold dropped $12.80 to $1,243.60, off its overnight low of
$1,236.50. Crude oil was $0.24 higher at $43.25 while Brent crude added $0.18
to $45.72. China's Dalian soybean futures were quietly mixed while Malaysian
palm oil futures were closed overnight.
 
 
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