DTN Early Word Grains 02/11 05:58
Grains Resist Outside Concerns
March corn was 1/4 cent lower, March soybeans were 1 3/4 cents higher, and
March Chicago wheat was 1 3/4 cents higher.
By Todd Hultman
6:00 a.m. CME Globex: March corn was 1/4 cent lower, March soybeans were 1
3/4 cents higher, and March Chicago wheat was 1 3/4 cents higher.
CME Globex Recap: Grains were mixed early Thursday in spite of a sell-off in
European bank stocks after Societe Generale reported disappointing earnings.
Selling spread through U.S. and European stock markets, negatively affected
crude oil, and may still exert a bearish influence on grain prices later
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 99.64 points lower
at 15,914.74, the NASDAQ Composite was up 14.83 points at 4,283.59, and the S&P
500 fell .35 to close at 1,851.86 Wednesday. DJIA futures were 317 points lower
overnight. Asian markets were mostly lower with the Nikkei down another 390
points (2.5%). European markets were lower with London's FTSE 100 down 119
points (2.1%). The U.S. dollar index was 0.37 lower at 95.52. Crude oil was
down $0.97 at $26.48 while Brent crude was down $0.43 to $30.41. April gold was
$32.40 higher at $1,227.00. Malaysian palm oil futures were up 1.1%.
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