DTN Early Word Grains 03/15 05:56

DTN Early Word Grains 03/15 05:56 Rallies Stabbed on the Ides of March May corn was 1 cent lower, May soybeans were 2 cents lower, and July Kansas City wheat was fractionally higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was 1 cent lower, May soybeans were 2 cents lower, and July Kansas City wheat was fractionally higher. CME Globex Recap: Today, March 15, recent rallies in energies, metals, and grains are staggering as if stabbed by a mob. The dagger looks to be the U.S. dollar index, a weapon some are saying could rally another 10% given recent actions by the European Central Bank and Central Bank of Japan as world traders wait on the outcome of this week's two-day meeting of the FOMC. Grains were lower across the board, possibly pressured by reaction to Monday's rally but also the continued technical sell-off in the energy complex and gold. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 15.82 points higher at 17,229.13; the NASDAQ Composite was up 1.81 points at 4,750.28, while the S&P 500 fell 2.55 points to close at 2,019.64 Monday. DJIA futures were 75 points lower overnight. Asian markets were mostly lower after the Bank of Japan held rates unchanged while giving a gloomy forecast for its economy, with the Nikkei down 116.68 points (0.7%) while China's Shanghai Composite rallied 4.87 points (0.2%). European markets were also mostly lower with London's FTSE 100 down 34.82 points (0.6%). The U.S. dollar index was up 0.164 at 96.788. Crude oil was down $0.98 at $36.19 while Brent crude fell $1.11 to $38.42. April gold was $11.70 lower at $1,233.40. China's Dalian soybean futures were lower while Malaysian palm oil futures were higher.