DTN Early Word Grains 03/27 05:57
Grains Mostly Lower Early Friday
May corn was fractionally lower, May soybeans were 3 cents lower, and May
Chicago wheat was 1 cent higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: May corn was fractionally lower, May soybeans were 3
cents lower, and May Chicago wheat was 1 cent higher.
CME Globex Recap: Commodities in general were mostly lower overnight,
pressured by the continued rally in the U.S. dollar index. Oddly enough, it was
wheat that was able to fight through the selling to post a small gain early
Friday. Soybeans were lower, following through on Thursday's sell-off, while
corn was near unchanged.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 40.31 points lower
Thursday at 17,678.23. Dow Jones futures were 46 points lower early Friday.
Asian markets were mixed with the Nikkei down 185.49 points at 19,285.63.
European markets were also mixed. The overnight crude oil market was $0.90
lower at $50.53 while Brent crude was $0.66 lower at $58.53. The April gold
contract was $7.50 lower at $1,197.30 while the U.S. dollar index was 0.299
higher at 97.735. Soybeans at the Dalian Exchange were mostly higher while
Malaysian palm oil contracts were lower.
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