DTN Early Word Grains 02/04 06:00

DTN Early Word Grains 02/04 06:00 Finally, Grains Find Support in Weaker Dollar March corn was 2 cents higher, March soybeans were 4 cents higher, and March Chicago wheat was 2 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was 2 cents higher, March soybeans were 4 cents higher, and March Chicago wheat was 2 cents higher. CME Globex Recap: Grains were finally able to find buying interest in the lower U.S. dollar index (USDX), the latter off another 0.625 early Thursday morning. Technically the USDX has broken down this week, supporting other sectors of the commodity complex. The grain sector has been slow to react due in large part to renewed commercial selling in soybeans. However, beans (and the rest of the bean complex) were able to regain some of Wednesday's loss overnight. Corn and wheat were both higher as well. Crude oil continued to rally while gold was also stronger Thursday morning. DJIA futures were hinting at a stronger open to the big board as well. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 183.12 points higher at 16,336.66, the NASDAQ Composite was down 12.71 points at 4,504.24, and the S&P 500 rallied 9.50 points to close at 1,912.53 Wednesday. DJIA futures were 55 points higher overnight. Asian markets were mostly higher though the Nikkei was down 146.26 points (0.9%) while China's Shanghai Composite rallied 41.78 points (1.5%). European markets were also mostly higher with London's FTSE 100 up 69.70 points (1.2%). The U.S. dollar index was 0.646 lower at 96.642. Crude oil was up $0.19 at $32.47 while Brent crude was off $0.04 to $35.00. April gold was $5.70 higher at $1,147.00. Dalian soybean and Malaysian palm oil futures were both lower.