DTN Early Word Grains 03/10 05:59
Grains Lower Ahead of USDA Reports
Corn futures are lower at 6 a.m. CST; soybeans lower; wheat lower.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: May Corn 9 cents lower, May Soybeans 7 cents lower, and
May Wheat 9 cents lower.
CME Globex Recap: Chinese economic numbers (exports, consumer prices) for
February that were more bearish than expected sparked a sell-off in both
financial and commodity markets. Selling in grains was tied to both commercial
and technical factors as traders await the latest round of USDA Supply and
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 30.83 points higher
Friday at 16,452.72. Dow Jones Industrial Average futures were 11 points lower
overnight, indicating selling interest could be seen Monday. Asian markets were
lower with the Nikkei down 153.93 points at 15,120.14. European markets were
mostly higher. The overnight crude oil market was $1.23 lower at $101.35 while
Brent crude was $0.79 lower at $108.21. The April gold contract was $3.00 lower
at $1,335.20 while the U.S. dollar index is 0.041 higher at 79.760. Soybeans at
the Dalian Exchange were lower while Malaysian palm oil futures were higher.
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