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DTN Early Word Grains         03/05 05:55
   Grains Find Buying Overnight

   May corn is up 5 3/4 cents per bushel, May soybeans are up 2 1/4 cents, and
May KC wheat is up 3/4 cent.

Tregg Cronin
DTN Contributing Analyst

   Pre-6 a.m. Globex Prices: May corn is up 5 3/4 cents per bushel, May
soybeans are up 2 1/4 cents, and May KC wheat is up 3/4 cent.

   CME Globex Recap: Weaker equity trade around the globe overnight with U.S.
futures staring at a lower open. Markets seem somewhat dissatisfied with
comments from Federal Reserve Chair Powell on Thursday when he said the U.S.
Central Bank would be "patient" in the face of a temporary rise in inflation,
signaling no immediate sense of alarm. Treasuries continued their selloff,
boosting yields to new highs for the move. Energy markets are higher overnight
with crude oil back above $65.00 per barrel for the first time on the recovery.
OPEC+ sticking to its crude oil production curbs has boosted the energy sector,
allowing RBOB to trade back over $2.00 per gallon overnight. The U.S. Dollar
Index has continued its rally overnight after breaking above the 50-day moving
average the previous session. Despite the dollar strength, grains have rallied
off the lows overnight. Floor leadership is coming from the corn market which
has had a weak performance this week, possibly inciting some bottom picking
heading into the weekend.

   OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial
Average down 345.95 at 30,924.14 and the S&P 500 down 51.25 at 3,819.72 while
the 10-Year Treasury yield ended at 1.55%. Early Friday, the March DJIA futures
are down 49 points. Asian markets are lower with Japan's Nikkei 225 down 65.79
(-0.23%) and China's Shanghai Composite down 1.5 points (-0.04%). European
markets are lower with London's FTSE 100 down 4.56 points (-0.07%), Germany's
DAX down 111.75 points (-0.81%) and France's CAC 40 down 33.72 points (-0.58%).
The March Euro is down 0.003 at 1.190 and the March U.S. dollar index is up
0.321 at 91.965. The June 30-Year T-Bond is down 2/32nds, while April gold is
down $7.30 at $1,693.40 and April crude oil is up $1.24 at $65.07. Soybeans on
China's Dalian Exchange were up 0.24% while soybean meal was down 0.5% and corn
was up 1.12%.
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