DTN Early Word Grains 03/24 05:56
Soybeans' Bearish Slide Continues
May corn was down 1/2 cent, May soybeans were down 7 cents, and May Chicago
wheat was up 2 1/4 cents.
By Todd Hultman
6:00 a.m. CME Globex: May corn was down 1/2 cent, May soybeans were down 7
cents, and May Chicago wheat was up 2 1/4 cents.
CME Globex Recap: May soybeans were under bearish pressure overnight, trading
lower again after falling to a new five-month low on Thursday. Corn is slightly
lower and winter wheat modestly higher while March's favorable weather
continues to weigh on grain prices.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed down 4.72 points at
20,656.58. The NASDAQ Composite was down 3.95 points at 5,817.69 and the S&P
500 was down 2.49 points at 2,345.96 Thursday. DJIA futures were up 28 points
early Friday morning. Asian markets were high with Japan's Nikkei up 177.22
points (0.9%), Hong Kong's Hang Seng up 30.57 points (0.1%), and China's
Shanghai Composite up 20.90 points (0.6%). European markets were a little lower
Friday with London's FTSE 100 down 1.13 points (-0.02%), Germany's DAX down
6.39 points (-0.05%), and France's CAC 40 down 15.04 points (-0.3%). The U.S.
dollar index was down 0.11 at 99.65 while the June euro was up 0.00140 at
1.08445. June 30-year T-Bonds were down 5/32nds at 150'12 while April gold was
down $3.40 at $1,243.80. May crude oil was up $0.36 at $48.06 while May Brent
crude was up $0.35 at $50.91. Soybeans at the Dalian Exchange were steady to
lower and Malaysian palm oil futures are down 0.7%.
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