DTN Early Word Grains 03/07 06:04

DTN Early Word Grains 03/07 06:04 A Mostly Lower Start to the Day May corn was 1 cent lower, May soybeans were 3 cents lower, and July Kansas City (HRW) 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 3 cents lower, and July Kansas City (HRW) wheat was fractionally higher. CME Globex Recap: After a steady-to-higher open to the overnight session, grain contracts were mostly lower early Tuesday morning. The largest loss was in soybeans as follow-through selling from Monday's bearish close was seen. Energies and metals switched places from the previous morning with the former showing small gains and the latter small losses. DJIA futures were under pressure once again while the U.S. dollar index showed a modest rally. In regards to financials, it was mentioned in these comments Monday that the Federal Reserve's two-day meeting was this week. That was incorrect. The meeting is scheduled for next Tuesday and Wednesday, March 14 and 15. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 51.37 points (0.2%) lower at 20,954.34. The Nasdaq Composite lost 21.58 points (0.4%) to 5,849.17 and the S&P 500 fell 7.81 points to 2,375.31 Monday. DJIA futures were 26 points lower early Tuesday morning. Asian markets were mostly higher with Japan's Nikkei down 34.99 points (0.2%), Hong Kong's Hang Seng gained 84.79 points (0.4%), and China's Shanghai Composite rallied 8.54 points (0.3%). European markets were mixed Tuesday with London's FTSE 100 up 5.90 points (0.1%), Germany's DAX gaining 9.52 points (0.1%), and France's CAC 40 off 15.17 points (0.3%). The euro was 0.0009 lower at 1.0574 while the U.S. dollar index gained 0.05 to 101.76. June 30-year T-Bonds were 2/32 higher at 149'04 while April gold lost $1.10 to $1,224.10. Crude oil rallied $0.20 to $53.40 while Brent crude gained $0.18 to $56.20. Dalian soybean and Malaysian palm oil futures were both lower overnight.