DTN Early Word Grains 03/28 05:54
Strange Bedfellows Indeed
May corn was 1 cent higher, May soybeans were 1 cent higher, and July Kansas
City (HRW) wheat was 1 cent lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: May corn was 1 cent higher, May soybeans were 1 cent
higher, and July Kansas City (HRW) wheat was 1 cent lower.
CME Globex Recap: Once again overnight trade saw the bulk of the commodity
sector trade in the same direction as the U.S. dollar index. After being
pummeled Monday, the greenback was able to post a modest rally through early
Tuesday morning, as did energies and grains. Softs were mixed while metals were
lower. DJIA futures were also higher, continuing Monday's late rally that saw
the big board erase most of its earlier triple-digit loss.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 45.74 points (0.2%)
lower at 20,550.98. The NASDAQ Composite gained 11.64 points (0.2%) to 5,840.37
and the S&P 500 dipped 2.39 points (0.1%) to 2,341.59 Monday. DJIA futures were
15 points higher early Tuesday morning. Asian markets were mostly higher with
Japan's Nikkei up 217.28 points (1.1%), Hong Kong's Hang Seng gained 152.17
points (0.6%), and China's Shanghai Composite fell 14.01 points (0.4%).
European markets were also mostly higher Tuesday with London's FTSE 100 gaining
5.71 points (0.1%), Germany's DAX up 74.50 points (0.6%), and France's CAC 40
adding 1.33 points. The euro was 0.0002 lower at 1.0861 while the U.S. dollar
index gained 0.01 to 99.23. June 30-year T-Bonds were 3/32 lower at 151'12
while April gold lost $2.60 to $1,253.10. Crude oil added $0.41 to $48.14 while
Brent crude rallied $0.38 to $51.13. Dalian soybean futures were lower again
while Malaysian palm oil futures rallied overnight.
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