DTN Early Word Grains 02/23 05:56

DTN Early Word Grains 02/23 05:56 Markets Quiet, Grains Holding Sideways March corn was 1 1/4 cents lower, March soybeans were 4 cents lower, and May Chicago wheat was 3/4 cent higher. By Todd Hultman DTN Analyst 6:00 a.m. CME Globex: March corn was 1 1/4 cents lower, March soybeans were 4 cents lower, and May Chicago wheat was 3/4 cent higher. CME Globex Recap: Both financial and grain markets were quiet overnight. All three grains remain firmly entrenched in their sideways ranges, waiting to assess the challenges of a new crop season. The U.S. dollar is slightly higher while crude oil is slightly lower. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 228.67 points higher at 16,620.66, the NASDAQ Composite was up 66.18 points at 4,570.61, and the S&P 500 was up 27.72 points to close at 1,945.50 Monday. DJIA futures were 11 points lower overnight. Asian markets were lower with the Nikkei down 180 points (1.1%) and China's Shanghai Composite was down 24 points (.8%). European markets were higher with London's FTSE 100 down 45 points (.8%). The U.S. dollar index was 0.012 higher at 97.391. Crude oil was down $.12 at $33.27 while Brent crude was up $.12 at $34.81. April gold was $8.80 higher at $1,218.80. China's Dalian soybean futures were mixed while Malaysian palm oil futures were 15 lower.