DTN Grain Open: Soybeans and Meal Show Shamrock Green

6:00 a.m. CME Globex: May corn was 1/4 cent lower, May soybeans were 5 cents higher, and July Kansas City (HRW) wheat was 4 1/4 cents lower.

CME Globex Recap: One day before St. Patrick’s Day, soybeans and meal were trading higher as the seven-day forecast for Argentina remains dry and stressful to row-crop conditions. Corn and winter wheat were a little lower despite red flag warnings throughout the southwestern U.S. Plains. Overnight commodities were mixed with Asian stock markets lower and European stocks a little higher.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 115.54 points (0.5%) higher at 24,873.66, the Nasdaq Composite was 15.07 points (-0.2%) lower to 7,496.81, and the S&P 500 dropped 2.15 points (-0.1%) to 2,747.33 Thursday. DJIA futures were 26 points lower early Friday morning.

Asian markets were lower with Japan’s Nikkei 225 down 127.44 points (-0.6%), Hong Kong’s Hang Seng down 39.13 points (-0.1%), and China’s Shanghai Composite off 21.23 points (-.6%). European markets were trading mostly higher with London’s FTSE 100 up 15.19 points (0.2%), Germany’s DAX adding 50.92 points (0.4%), and France’s CAC 40 gaining 5.16 points (0.1%).

The euro was 0.0026 higher at 1.2410 while the U.S. dollar index slipped 0.21 to 89.92. March 30-year T-Bonds were 2/32 higher at 145’28 while April gold was up $2.30 at $1,320.00. Crude oil was $0.21 higher at $61.40 as Brent crude was up $0.17 at $65.29. China’s Dalian soybeans were steady to higher and Malaysian palm oil futures were down 0.5% overnight.

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