DTN Early Word Grains 01/26 07:21
Grain Prices a Little Higher Ahead of Export Sales Data
March corn is up 2 cents, March soybeans are up 6 cents and March KC wheat
is up 6 cents.
DTN Lead Analyst
EARLY MORNING GLOBEX NET CHANGES: March corn is up 2 cents, March soybeans
are up 6 cents and March KC wheat is up 6 cents.
CME GLOBEX RECAP: Early Thursday, stock futures in the U.S. were trading
slightly higher with encouragement from higher prices in Europe. The Bank of
Canada raised its interest rate a quarter-percent to 4.50% Wednesday, as
expected and will likely be followed by the Federal Reserve's next action on
February 1. USDA's weekly export sales report is due out at 7:30 a.m. CST
Thursday, the same time as the first estimate of fourth-quarter U.S. GDP. Over
400 earnings reports are due out Thursday, including Archer-Daniels-Midlands.
OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial
Average up 9.88 at 33,743.84 and the S&P 500 down 0.73 at 4,016.22, while the
10-Year Treasury yield ended at 3.46%, near the lowest yields in four months.
Early Thursday, March Dow Jones futures are up 5 points. Asian markets are
lower with Japan's Nikkei 225 index down 0.12%. European markets are higher
with the spot futures of the London FTSE 100 trading up 0.25%, spot futures of
Germany's DAX trading up 0.18% and spot futures of France's CAC Index trading
up 0.67%. The March euro is down $0.0016 at $1.0933. The March U.S. Dollar
Index is up 0.17 at 101.59. The March 30-year T-bond is down 8/32nds, while
February gold is down $5.30 at $1,937.30 and March crude oil is up $0.55 at
$80.70. China's market's are closed this week for the New Year holiday. March
Malaysian palm oil is trading up 1.4%.
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