DTN Early Word Grains 01/30 05:38
Soybean, Meal Prices Higher Again on Argentine Concerns
March corn is up 3 cents, March soybeans are up 18 cents and March KC wheat
is up 8 cents.
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: March corn is up 3 cents, March soybeans
are up 18 cents and March KC wheat is up 8 cents.
CME GLOBEX RECAP: Early Monday, stock futures in the U.S. were trading lower
along with stocks in Europe. Friday's index of personal consumption
expenditures showed inflation pressures eased to 5% annual growth in December,
still well above the Fed target of 2%. The first quarter earnings season
continues with reports from Franklin Resources and Whirlpool expected Monday.
USDA's weekly report of export inspections is due out at 10 a.m. CST Monday.
OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial
Average up 28.67 at 33,978.08 and the S&P 500 up 10.13 at 4,070.56. The 10-Year
Treasury yield ended at 3.52%, up from the lowest yields in four months. Early
Monday, March Dow Jones futures are down 248 points. Asian markets are slightly
higher with Japan's Nikkei 225 index up 0.19% and China's Shanghai Composite
Index up 0.14%, back from its New Year holiday. European markets are lower with
the spot futures of the London FTSE 100 trading down 0.08%, spot futures of
Germany's DAX trading down 0.59% and spot futures of France's CAC Index trading
down 0.58%. The March euro is up $0.0038 at $1.0938. The March U.S. Dollar
Index is down 0.19 at 101.53. The March 30-year T-bond is down 9/32nds, while
April gold is down $4.30 at $1,925.10 and March crude oil is up $0.10 at
$79.78. On China's Dalian exchange, March corn was up 1.0%, March soybeans were
up 1.4%, May soybean meal was up 0.6% and May soybean oil was up 1.4%. April
Malaysian palm oil is trading up 0.9%.
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