DTN Early Word Grains 01/23 06:03
Markets Jittery Heading into Friday's Session
March corn was 1 cent lower, March soybeans were 1 cent higher, and March
Chicago wheat was 3 cents 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 3 cents lower.
CME Globex Recap: Thursday's explosive rally in the U.S. dollar index
continued overnight. Despite that, crude oil was able to rally on a round of
buying following the news of the death of Saudi King Abdullah. Gold fell back
from its test of resistance $1,303.50. Grains were tentative early Friday, with
soybeans higher while corn and wheat drifted lower.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 259.70 points higher
Thursday at 17,813.98. Dow Jones futures were 48 points higher early Friday.
Asian markets were higher with the Nikkei up 182.73 points at 17,511.75.
European markets were also higher. The overnight crude oil market was $0.65
higher at $46.96 while Brent crude was $0.96 higher at $49.48. The February
gold contract was $6.80 lower at $1,293.90 while the U.S. dollar index was
0.801 higher at 94.878. Soybeans at the Dalian Exchange were lower while
Malaysian palm oil contracts were also lower.
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