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DTN Early Word Grains         03/23 05:56
   Grains Mostly Lower... Again

   May corn was down 1/2 cent, May soybeans were down 4 1/2 cents, and May
Chicago wheat was up 1/2 cent.

By Todd Hultman
DTN Analyst

6:00 a.m. CME Globex:   May corn was down 1/2 cent, May soybeans were down 4
1/2 cents, and May Chicago wheat was up 1/2 cent.

CME Globex Recap:   In spite of a slight gain in wheat, all three grains remain
under bearish pressure early Thursday with market weather factors still bearish
and palm oil futures lower overnight. Thursday morning's export sales report
holds extra interest for soybeans.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed down 6.71 points at
20,661.30. The NASDAQ Composite was up 27.81 points at 5,821.64 and the S&P 500
was up 4.43 points at 2,348.45 Wednesday. DJIA futures were down 5 point early
Thursday morning. Asian markets were a little higher with Japan's Nikkei up
43.93 points (0.2%), Hong Kong's Hang Seng up 7.29 points (0.03%), and China's
Shanghai Composite up 3.33 points (0.1%). European markets were also mixed
Thursday with London's FTSE 100 down 13.65 points (-0.2%), Germany's DAX up
18.19 points (0.15%), and France's CAC 40 down 8.73 points (-0.2%). The U.S.
dollar index was up 0.11 at 99.83 while the June euro was down 0.00270 at
1.08170. June 30-year T-Bonds were down 5/32nds at 150'20 while April gold was
down $3.40 at $1,246.30. May crude oil was up $0.24 at $48.28 while Brent crude
was up $0.40 at $51.04. Soybeans at the Dalian Exchange were steady to lower
and Malaysian palm oil futures are down 2.2%.
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