DTN Early Word Grains 02/02 05:59

DTN Early Word Grains 02/02 05:59 Will Phil Trump the Winter Storm in Iowa Tuesday? March corn was unchanged, March soybeans were 1 cent higher, and March Chicago wheat was unchanged. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was unchanged, March soybeans were 1 cent higher, and March Chicago wheat was unchanged. CME Globex Recap: The commodity sector remains focused on the energy complex Tuesday morning, with contracts there again seeing solid losses. Grains were quietly higher, while both DJIA futures and the U.S. dollar index were lower. Headlines, other than Iowa Caucus results, were quiet overnight as traders worldwide wait to see if Punxsutawney Phil sees his shadow a little later in the morning. Meanwhile, the U.S. Midwest is getting hammered by a major winter storm. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 17.12 points lower at 16,449.18, the NASDAQ Composite was up 6.42 points at 4,620.37, and the S&P 500 fell 0.86 points to close at 1,939.38 Monday. DJIA futures were 118 points lower overnight. Asian markets were mostly lower with the Nikkei down 114.55 points (0.6%) while China's Shanghai Composite rallied 60.72 points (2.3%). European markets were also mostly lower with London's FTSE 100 down 96.81 points (1.6%). The U.S. dollar index was 0.039 lower at 98.970. Crude oil was down $0.92 at $30.70 while Brent crude was off $1.05 to $33.19. April gold was $3.60 lower at $1,124.40. Dalian soybean futures were lower while Malaysian palm oil futures were higher.