DTN Early Word Grains 01/23 05:56
Soybeans Lower Overnight, Brazil Harvest On the Way
March corn was down 1 cent, March soybeans were down 7 1/4 cents, and July
Chicago wheat was down 1/2 cent.
By Todd Hultman
6:00 a.m. CME Globex: March corn was down 1 cent, March soybeans were down 7
1/4 cents, and July Chicago wheat was down 1/2 cent.
CME Globex Recap: Soybeans were lower overnight, pressured by commercial
selling in soybeans and noncommercial selling in meal as Brazil's soybean
harvest shows early progress. Corn and wheat were steady to lower with quiet
trading overnight, getting some support from a lower start in the U.S. dollar
OUTSIDE MARKETS: The Dow Jones Industrial Average closed up 94.85 points at
19,827.25. The NASDAQ Composite was up 15.25 points to 5,555.33 and the S&P 500
was up 7.62 points at 2,271.31 Friday. DJIA futures were down 10 points early
Monday morning. Asian markets were mixed with Japan's Nikkei down 246.88 points
(-1.3%), Hong Kong's Hang Seng up 12.61 points (0.1%), and China's Shanghai
Composite up 13.64 points (0.4%). European markets were lower Monday with
London's FTSE 100 down 41.98 points (-0.6%), Germany's DAX down 44.03 points
(-0.4%), and France's CAC 40 down 14.53 points (-0.3%). The U.S. dollar index
was down 0.39 at 100.43 while the euro was up 0.00330 at 1.07635. March 30-year
T-Bonds were up 1/32nd at 150'26 while February gold was up $8.70 at $1,213.60.
March crude oil was down $0.67 at $52.55 while Brent crude was down $0.61 at
$54.88. Dalian soybean futures were lower and Malaysian palm oil futures were
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