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DTN Early Word Grains         01/20 05:59
   Grains Steady to Lower, Trump Era Begins

   March corn was steady, March soybeans were down 6 cents, and July Chicago
wheat was down 1 cent.

By Todd Hultman
DTN Analyst

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

CME Globex Recap:   Corn and wheat were steady to lower early while soybeans
were down 6 cents, easing back from the bullishness seen earlier this week
after excess rain damaged fields in Argentina. The U.S. transfers power to a
new President Friday with many wondering how grain trade with China will be
impacted among other things.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed down 72.32 points at
19,732.40. The NASDAQ Composite was down 15.57 points to 5,540.08 and the S&P
500 was down 8.20 points at 2,263.69 Thursday. DJIA futures were down 6 points
early Friday morning. Asian markets were mixed with Japan's Nikkei up 65.66
points (.3%), Hong Kong's Hang Seng down 164.05 points (-0.7%), and China's
Shanghai Composite up 21.84 points (0.7%). European markets were a little
higher Friday with London's FTSE 100 up 4.43 points (0.1%), Germany's DAX up
26.28 points (0.2%), and France's CAC 40 up 19.81 points (0.4%). The U.S.
dollar index was up 0.19 at 101.36 while the euro was down 0.00220 at 1.06600.
March 30-year T-Bonds were down a full point at 150'02 while February gold was
down $1.80 at $1,199.70. March crude oil was up $0.61 at $52.73 while Brent
crude was up $0.61 at $54.77. Dalian soybean futures were steady to lower and
Malaysian palm oil futures were down 0.8% overnight.
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