DTN Early Word Grains 01/30 05:56
Grains Quietly Higher Early Friday
March corn was fractionally higher, March soybeans were 1 cent higher, and
March Chicago wheat was 2 cents higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: March corn was fractionally higher, March soybeans were
1 cent higher, and March Chicago wheat was 2 cents higher.
CME Globex Recap: Grains were posting small gains early Friday, following a
quiet overnight session. The U.S. dollar index was lower, providing support to
commodities in general. Crude oil was showing a modest rally of $0.50, while
gold had captured a small part of Thursday's sharp sell-off.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 225.48 points higher
Thursday at 17,416.85. Dow Jones futures were 82 points lower early Friday.
Asian markets were mostly lower with the Nikkei 68.17 points higher at
17,674.39. European markets were mixed. The overnight crude oil market was
$0.46 higher at $44.99 while Brent crude was $0.47 higher at $49.60. The April
gold contract was $9.50 higher at $1,265.40 while the U.S. dollar index was
0.335 lower at 94.447. Soybeans at the Dalian Exchange were mixed while
Malaysian palm oil contracts were higher.
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