DTN Early Word Grains 02/10 05:55
Grains Quiet Again Overnight
March corn was 1 cent lower, March soybeans were 1 cent higher, and March
Chicago wheat was fractionally lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: March corn was 1 cent lower, March soybeans were 1 cent
higher, and March Chicago wheat was fractionally lower.
CME Globex Recap: Grains continued in relatively quiet trade following
Tuesday's bearish round of USDA supply and demand numbers. All three major
markets moved within 2-cent trading ranges as traders kept an eye on
developments in the U.S. dollar index. Tuesday saw new talk of possible
negative interest rates by Fed Chairwoman Yellen prior to her Wednesday meeting
with the House Financial Services Committee. Outside markets were mixed with
crude oil higher and gold lower.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 12.67 points lower
at 16,014.38, the NASDAQ Composite was down 14.99 points at 4,268.76, and the
S&P 500 fell 1.23 points to close at 1,852.10 Tuesday. DJIA futures were 129
points higher overnight. Asian markets were mostly lower with the Nikkei down
another 372.05 points (2.3%). European markets were higher with London's FTSE
100 up 74.79 points (1.3%). The U.S. dollar index was 0.184 higher at 96.255.
Crude oil was up $0.46 at $28.40 while Brent crude rallied $0.47 to $30.79.
April gold was $15.30 lower at $1,183.30. Malaysian palm oil futures were
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