DTN Early Word Grains 02/17 05:56
Declining Oil Prices Weigh on Soybeans
March corn was down 3 1/4 cents, March soybeans were down 7 3/4 cents, and
March Chicago wheat was down 3 3/4 cents.
By Todd Hultman
6:00 a.m. CME Globex: March corn was down 3 1/4 cents, March soybeans were
down 7 3/4 cents, and March Chicago wheat was down 3 3/4 cents.
CME Globex Recap: March soybean were down 7 3/4 cents early Friday, pulled
down by new overnight lows in palm oil and soybean oil futures. Corn and wheat
are also lower after Thursday's turn from recent highs while the news remains
mostly favorable for crops in South America.
OUTSIDE MARKETS: The Dow Jones Industrial Average closed up 7.91 points at
20,619.77. The NASDAQ Composite was down 4.54 points at 5,814.90 and the S&P
500 was down 2.03 points at 2,347.22 Thursday. DJIA futures were down 62 points
early Friday morning. Asian markets were lower with Japan's Nikkei down 112.91
points (-0.6%), Hong Kong's Hang Seng down 73.96 points (-0.3%), and China's
Shanghai Composite down 27.54 points (-0.8%). European markets were also lower
Friday with London's FTSE 100 down 3.88 points (-0.05%), Germany's DAX down
54.63 points (-0.5%), and France's CAC 40 down 46.83 points (-1.0%). The U.S.
dollar index was up 0.16 at 100.66 while the euro was down 0.00280 at 1.06570.
March 30-year T-Bonds were up 19/32nds at 151'13 while April gold was up $1.00
at $1,242.60. March crude oil was down $0.38 at $52.98 while Brent crude was
down $0.51 at $55.14. Soybeans at the Dalian Exchange are lower overnight and
Malaysian palm oil futures were down 2.4%.
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