DTN Early Word Grains 01/22 05:57
A Bullish Blizzard
March corn was 1 cent higher, March soybeans were 7 cents higher, and March
Chicago (SRW) wheat was 3 cents higher.
By Todd Hultman
6:00 a.m. CME Globex: March corn was 1 cent higher, March soybeans were 7
cents higher, and March Chicago (SRW) wheat was 3 cents higher.
CME Globex Recap: As a massive winter storm swirls and blows across the U.S.
Southern Plains and Midwest, the grain and oilseed complex traded higher
overnight. Soybeans led the way with contracts sitting at or near session highs
early Monday morning. Wheat markets were also higher, with Chicago (SRW) taking
the lead, while corn also tried to rally. As for the shutdown of the U.S.
federal government, the U.S. dollar was weaker overnight and DJIA futures were
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 53.91 points (0.2%)
higher at 26,071.72, the NASDAQ Composite gained 40.33 points (0.5%) to
7,336.38, and the S&P 500 rallied 12.27 points (0.4%) to 2,810.30 Friday. DJIA
futures were 51 points lower early Monday morning. Asian markets closed higher
with Japan's Nikkei 225 up 8.27 points and China's Shanghai Composite adding
13.50 points (0.4%). European markets were trading mostly higher with London's
FTSE 100 up 3.94 points, Germany's DAX up 1.71 points, and France's CAC 40 off
1.41 points. The U.S. dollar index fell another 0.23 to 90.45. March 30-year
T-Bonds were 8/32 lower at 148'24 while February gold was unchanged at
$1,333.10. Crude oil was $0.03 higher at $63.40 while Brent crude lost $0.02 to
$69.59. China's Dalian soybean futures were lower and Malaysian palm oil
futures were higher overnight.
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