DTN Early Word Grains 01/24 06:04

DTN Early Word Grains         01/24 06:04
   Grains Weaker as Trade Awaits Export Demand Confirmation

   March corn down 1/4 cent, March soybeans down 1 1/2 cents, and March KC
Wheat down 1 1/4 cent.

By Tregg Cronin
DTN Contributing Analyst

6:00 a.m. CME Globex:   March corn down 1/4 cent, March soybeans down 1 1/2
cents, and March KC Wheat down 1 1/4 cent.

CME Globex Recap:   Mostly quiet global equity markets Thursday morning, but
the U.S. Dollar Index is trading near 2019 highs and just below its 50-day
moving average. The greenback found support at its 100-day moving average
Wednesday and overnight. Grains have seen both sides overnight with wheat
markets taking a breather for the first time since last week. Trade talks
continue to be the main price driver even as South American production
estimates are far from settled.

OUTSIDE MARKETS:   Previous closes on Wednesday showed the Dow Jones Industrial
Average up 171.14 at 24,575.62 and the S&P 500 up 5.80 at 2,638.70 while the
10-yr Treasury yield ended at 2.746%. Early Thursday, DJIA futures are up 18.00
points. Asian markets are mixed with Japan's Nikkei 225 down 19.09 points
(-0.09%) and China's Shanghai Composite up 10.69 points (0.41%). European
markets are mostly higher with London's FTSE 100 down 9.76 points (-0.14%),
Germany's DAX up 74.47 points (0.67%), and France's CAC 40 up 39.83 points
(0.82%). The euro was down 0.00425 at 1.13660 and the U.S. dollar index was up
0.3220 at 96.4300. March 30-year T-Bonds were up 13/32nds while April gold was
down $5.80 at $1284.40 and March crude oil was down $0.10 at $52.51. Soybeans
on China's Dalian Exchange closed up 0.44% while soymeal closed up 0.46%.

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