DTN Early Word Grains 02/27 06:12

DTN Early Word Grains 02/27 06:12 So Much for Cold Weather May corn was fractionally higher, May soybeans were 1 cent higher, and July Kansas City wheat was 3 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was fractionally higher, May soybeans were 1 cent higher, and July Kansas City wheat was 3 cents lower. CME Globex Recap: With temperatures dipping down into the low teens across much of the United States this past weekend, the question was whether or not winter wheat markets would respond Sunday night into Monday morning. The answer was an emphatic no with the wheat complex in general under pressure. Meanwhile, corn and soybeans were higher but didn't do much from the sessions opening minutes. Outside markets did firm as overnight turned into Monday morning, led by the bulk of the energy complex. Only natural gas remained lower, adding to its strong downtrend. Gold and DJIA futures were both showing small losses with the U.S. dollar index also off. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 11.44 points higher at 20,821.76. The Nasdaq Composite gained 9.80 points (0.2%) to 5,845.31 and the S&P 500 added 3.53 points to 2,367.34 Friday. DJIA futures were 3 points lower early Monday morning. Asian markets were lower with Japan's Nikkei down 176.07 points (0.9%), Hong Kong's Hang Seng lost 40.65 points (0.2%), and China's Shanghai Composite fell 24.77 points (0.8%). European markets were mostly lower Monday with London's FTSE 100 up 9.79 points (0.1%), Germany's DAX gaining 1.68 points, and France's CAC 40 down 6.84 points (0.1%). The euro was 0.0024 higher at 1.0585 while the U.S. dollar index dipped 0.06 to 101.06. March 30-year T-Bonds were 2/32 lower at 151'29 while April gold lost $1.60 to $1,256.70. Crude oil gained $0.33 to $54.32 while Brent crude added $0.45 to $56.44. Dalian soybean and Malaysian palm oil futures were both lower overnight.