DTN Early Word Grains 01/29 05:57
U.S. Dollar Index Continues to Rally
March corn was 3 cents lower, March soybeans were 1 cent lower, and March
Chicago wheat was 3 cents lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: March corn was 3 cents lower, March soybeans were 1
cent lower, and March Chicago wheat was 3 cents lower.
CME Globex Recap: The stronger U.S. dollar index helped put grains on the
defensive again overnight, with all three markets lower early Thursday morning.
However, continued commercial buying in soybean meal had soybeans near
unchanged. The energy complex was able to erase some of Wednesday's loss.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 195.84 points lower
Wednesday at 17,191.37. Dow Jones futures were 82 points higher early Thursday.
Asian markets were mostly lower with the Nikkei 189.51 points lower at
17,606.22. European markets were also mostly lower. The overnight crude oil
market was $0.08 higher at $44.53 while Brent crude was $0.37 higher at $48.84.
The April gold contract was $10.00 lower at $1,277.20 while the U.S. dollar
index was 0.157 higher at 94.624. Soybeans at the Dalian Exchange were lower
while Malaysian palm oil contracts were also lower.
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