DTN Early Word Grains 02/03 05:56

DTN Early Word Grains 02/03 05:56 Lunar New Year Hangover March corn was 1 cent lower, March soybeans were 2 cents lower, and July Kansas City wheat was 1 cent lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was 1 cent lower, March soybeans were 2 cents lower, and July Kansas City wheat was 1 cent lower. CME Globex Recap: China's weeklong Lunar New Year holiday has come to an end, sparking a rally of 7 cents in the soybean market overnight. However, grains couldn't hold initial rallies with all three major markets showing losses early Friday morning. Though the U.S. dollar index was higher, financial markets in general were tentative ahead of Friday's release of January jobs data (nonfarm payroll, unemployment rate, average hourly earnings). Gold was lower while crude oil continued its rally overnight. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 6.03 points lower at 19,884.91. The NASDAQ Composite dipped 6.45 points (0.1%) to 5,636.20 and the S&P 500 added 1.30 points to 2,280.85 Thursday. DJIA futures were 21 points higher early Friday morning. Asian markets were mixed with Japan's Nikkei up 3.62 points, Hong Kong's Hang Seng lost 55.31 points (0.2%), and China's Shanghai Composite slipped 19.00 points (0.6%). European markets were higher Friday with London's FTSE 100 up 31.62 points (0.4%), Germany's DAX rallying 14.59 points (0.1%), and France's CAC 40 gaining 34.80 points (0.7%). The U.S. dollar index was 0.242 higher at 100.060 while the euro lost 0.0021 to 1.0729. March 30-year T-Bonds lost 13/32 to 150'05 while April gold fell $4.50 to $1,214.90. Crude oil added $0.27 to $53.81 while Brent crude gained $0.30 to $56.86. Dalian soybean futures were higher while Malaysian palm oil futures were lower overnight.