DTN Early Word Grains 01/23 05:54
Soybeans Stay Strong
March corn was fractionally lower, March soybeans were 2 cents higher, and
March Chicago (SRW) wheat was 2 cents lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: March corn was fractionally lower, March soybeans were
2 cents higher, and March Chicago (SRW) wheat was 2 cents lower.
CME Globex Recap: While soybeans continued to rally, corn and wheat sagged
overnight. Activity looked to be quiet, in general, with small trading ranges
seen across the board. Other commodity sectors were mixed with metals mostly
lower, energies higher, and softs mixed. The U.S. dollar index rallied,
slightly, while DJIA futures were sitting near unchanged.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 142.88 points (0.6%)
higher at 26,214.60, the NASDAQ Composite gained 71.65 points (1.0%) to
7,408.03, and the S&P 500 rallied 22.67 points (0.8%) to 2,832.97 Monday. DJIA
futures were 13 points lower early Tuesday morning. Asian markets closed higher
with Japan's Nikkei 225 up 307.82 points (1.3%), Hong Kong's Hang Seng jumping
537.29 points (1.7%), and China's Shanghai Composite adding 45.14 points
(1.3%). European markets were trading higher with London's FTSE 100 up 17.35
points (0.2%), Germany's DAX up 105.98 points (0.8%), and France's CAC 40
rallying 4.55 points (0.1%). The euro was 0.0006 lower at 1.2255 as the U.S.
dollar index gained 0.02 to 90.41. March 30-year T-Bonds were 23/32 higher at
149'13 while February gold was gained $6.10 to $1,338.00. Crude oil was $0.18
higher at $63.75 and Brent crude added $0.16 to $69.19. China's Dalian soybean
and Malaysian palm oil futures were both higher overnight.
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