DTN Early Word Grains 03/07 06:01
Grains Post Strong Rally Early Friday
Corn futures are higher at 6 a.m. CST; soybeans higher; wheat higher.
By Darin Newsom
DTN Senior Analyst
6:00 a.m. CME Globex: May Corn 10 cents higher, May Soybeans 20 cents higher,
and May Wheat 12 cents higher.
CME Globex Recap: The grain markets rocketed to strong double-digit gains
overnight with most contracts sitting near session highs early Friday morning.
Much of the buying seemed to be coming from commercial traders, particularly in
soybeans and corn. Metals and energies were mostly lower.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed 61.71 points higher
Thursday at 16,431.89. Dow Jones Industrial Average futures were 12 points
higher overnight, indicating continued buying interest could be seen Friday.
Asian markets were mostly higher with the Nikkei up 139.32 points at 15,274.07.
European markets were mostly lower. The overnight crude oil market was $0.10
higher at $101.66 while Brent crude was $0.12 lower at $107.98. The April gold
contract was $3.50 lower at $1,348.30 while the U.S. dollar index is 0.111
lower at 79.552. Soybeans at the Dalian Exchange were mostly higher while
Malaysian palm oil futures were higher.
Your local weather forecast from DTN can be sent to your email every morning free through DTN Snapshot