DTN Early Word Grains 03/11 06:04
Grains Mostly Lower Early Tuesday
Corn futures are lower at 6 a.m. CST; soybeans lower; wheat unchanged.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: May Corn 2 cents lower, May Soybeans 5 cents lower, and
May Wheat unchanged.
CME Globex Recap: Soybean and corn contracts continued to drift lower
overnight with commercial selling in soybeans taking center stage. Winter wheat
contracts were fractionally higher while Minneapolis spring wheat moved lower.
Outside commodities found renewed buying after Monday's sell-off.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 34.04 points lower
Monday at 16,418.68. Dow Jones Industrial Average futures were 13 points lower
overnight, indicating continued selling interest could be seen Tuesday. Asian
markets were mostly higher with the Nikkei up 103.97 points at 15,224.11.
European markets were mostly lower. The overnight crude oil market was $0.32
higher at $101.44 while Brent crude was $0.54 higher at $108.62. The April gold
contract was $6.90 higher at $1,348.40 while the U.S. dollar index is 0.122
higher at 79.890. Soybeans at the Dalian Exchange were mixed while Malaysian
palm oil futures were lower.
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