DTN Early Word Grains 01/29 05:57

DTN Early Word Grains 01/29 05:57 Japan, Not China, Roils Global Markets March corn was fractionally lower, March soybeans were fractionally higher, and March Chicago wheat was 1 cent lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was fractionally lower, March soybeans were fractionally higher, and March Chicago wheat was 1 cent lower. CME Globex Recap: The Bank of Japan moved interest rates into negative territory for the first time in history, sparking a sharp rally in global equity and the U.S. dollar index. Commodities showed little reaction with gold posting a small loss and crude holding small gains early Friday. Grains were narrowly mixed after posting tight overnight trading ranges. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 125.18 points higher at 16,069.64, the NASDAQ Composite was up 38.51 points at 4,506.68, and the S&P 500 rallied 10.41 points to close at 1,893.50 Thursday. DJIA futures were 119 points higher overnight. Asian markets were higher with the Nikkei up 476.85 points (2.8%) and China's Shanghai Composite was 81.94 points (3.1%) higher. European markets were also higher with London's FTSE 100 up 54.42 points (0.9%). The U.S. dollar index was 0.548 higher at 99.058. Crude oil was up $0.09 at $33.30 while Brent crude rallied $0.10 to $33.99. February gold was $2.90 lower at $1,112.70. Dalian soybean and Malaysian palm oil futures were both lower.