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DTN Early Word Grains         01/17 05:56
   Grains Race Past Winter's Midpoint

   March corn was 3 cents higher, March soybeans were 17 cents higher, and July
Chicago wheat was 1 cent higher.

By Darin Newsom
DTN Senior Analyst

6:00 a.m. CME Globex:   March corn was 3 cents higher, March soybeans were 17
cents higher, and July Chicago wheat was 1 cent higher.

CME Globex Recap:   According to the calendar, winter is now half over. Grains
started the second-half with a strong rally, once again led by soybeans. Winter
wheat was mixed with Kansas City giving back a small part of last week's gains.
Softs and metals were mostly higher, with gold up an impressive $20, while the
energy complex found renewed buying interest. The U.S. dollar index and DJIA
were both under pressure.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed 5.27 points lower at
19,885.73. The NASDAQ Composite gained 26.63 points (0.5%) to 5,574.12 and the
S&P 500 was up 4.20 points (0.2%) at 2,274.64 Friday. DJIA futures were 101
points lower early Tuesday morning. Asian markets were mixed with Japan's
Nikkei down 281.71 points (1.5%), Hong Kong's Hang Seng gained 122.82 points
(0.5%), and China's Shanghai Composite added 5.35 points (0.2%). European
markets were mostly lower Tuesday with London's FTSE 100 down 24.66 points
(0.3%), Germany's DAX off 101.93 points (0.9%), and France's CAC 40 losing
30.70 points (0.6%). The U.S. dollar index was 0.89 lower at 100.68 while the
euro was up 0.0089 at 1.0691. March 30-year T-Bonds gained 1 and 5/32 to 153'14
while February gold rallied $21.00 to $1,217.20. Crude oil gained $0.79 to
$53.16 while Brent crude was $0.74 higher at $56.60. Dalian soybean and
Malaysian palm oil futures were both higher overnight.
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