DTN Early Word Grains 03/16 05:54

DTN Early Word Grains 03/16 05:54 Beware the Day After the Ides of March May corn was 1 cent lower, May soybeans were 4 cents lower, and July Kansas City wheat was fractionally lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was 1 cent lower, May soybeans were 4 cents lower, and July Kansas City wheat was fractionally lower. CME Globex Recap: Grain markets were tentative overnight, heading into the conclusion of the Federal Open Market Commissions two-day meeting. Later in the day, Chairperson Yellen is scheduled to announce the Fed's decision on interest rates with the general market consensus no changes will be seen. Still, the U.S. dollar index was firm again early Wednesday morning while DJIA futures also showed continued strength. Gold and crude oil both recovered a small part of recent losses, though neither were decisive in overnight rallies. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 22.40 points higher at 17,251.53; the NASDAQ Composite was down 21.61 points at 4,728.67, while the S&P 500 fell 3.71 points to close at 2,015.93 Tuesday. DJIA futures were 20 points higher overnight. Asian markets were mixed with the Nikkei down 142.62 points (0.8%) while China's Shanghai Composite rallied 6.06 points (0.2%). European markets were mostly higher with London's FTSE 100 up 21.90 points (0.4%). The U.S. dollar index was up 0.182 at 96.815. Crude oil was up $0.59 at $36.93 while Brent crude gained $0.45 to $39.13. April gold was $2.00 higher at $1,233.00. China's Dalian soybean futures were lower while Malaysian palm oil futures were mixed.