DTN Early Word Grains 03/22 06:05
DTN Early Word Grains 03/22 06:05 It's a Green Grain Morning May corn was 2 cents higher, May soybeans were 1 cent higher, and July Kansas City (HRW) wheat was 3 cents higher. By Darin Newsom DTN Senior Analyst **USDA's Export Sales report was postponed until Friday, March 23rd after this writing** 6:00 a.m. CME Globex: May corn was 2 cents higher, May soybeans were 1 cent higher, and July Kansas City (HRW) wheat was 3 cents higher. CME Globex Recap: The grain and oilseed complex was higher, for the most part, early Thursday with only oils under pressure. In other words, soybean oil, canola, and Malaysian palm oil were in the red while soybeans and soybean meal continue their recent rally. Crude oil was down a bit following Wednesday's rally while metals continue to move higher despite a stabilizing U.S. dollar. DJIA futures were showing a triple-digit loss, hinting at another exciting day in equities. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 44.96 points (0.2%) lower at 24,682.31, the NASDAQ Composite lost 19.02 points (0.3%) to 7,345.29, and the S&P 500 dipped 5.01 points (0.2%) to 2,711.93 Wednesday. DJIA futures were 147 points lower early Thursday morning. Asian markets closed mixed with Japan's Nikkei 225 up 211.02 points (1.0%), Hong Kong's Hang Seng down 343.47 points (1.1%), and China's Shanghai Composite losing 17.47 points (0.5%). European markets were trading lower with London's FTSE 100 down 35.68 points (0.5%), Germany's DAX losing 122.96 points (1.0%), and France's CAC 40 off 51.92 points (1.0%). The euro was 0.0009 lower at 1.2329 while the U.S. dollar index was unchanged at 89.70. June 30-year T-Bonds were 1 4/32 higher at 144'20 while April gold gained $7.20 to $1,328.70. Crude oil was $0.41 lower at $64.76 as Brent crude dropped $0.64 to $68.83. China's Dalian soybean futures were higher and Malaysian palm oil futures were lower overnight.