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DTN Early Word Grains         02/22 05:53
   Another Red Morning

   March corn was unchanged, March soybeans were 2 cents lower, and July Kansas
City (HRW) wheat was 1 cent lower.

By Darin Newsom
DTN Senior Analyst

6:00 a.m. CME Globex:   March corn was unchanged, March soybeans were 2 cents
lower, and July Kansas City (HRW) wheat was 1 cent lower.

CME Globex Recap:   Similar to Wednesday, markets in general were lower early
Thursday. Losses were seen in grains and oilseeds, energies, metals, and softs
despite a slightly weaker U.S. dollar. DJIA futures were also lower, following
through on Wednesday's late collapse in U.S. stocks markets.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed 166.97 points (0.7%)
lower at 24,797.78, the NASDAQ Composite lost 16.08 points (0.2%) to 7,218.23,
and the S&P 500 dropped 14.93 points (0.6%) to 2,701.33 Wednesday. DJIA futures
were 21 points lower early Thursday morning. Asian markets closed mostly lower
with Japan's Nikkei 225 down 234.37 points (1.1%), Hong Kong's Hang Seng
falling 466.21 points (1.5%), and China's Shanghai Composite up 69.40 points
(2.2%). European markets were trading lower with London's FTSE 100 down 69.03
points (1.0%), Germany's DAX losing 107.80 points (0.9%), and France's CAC 40
off 23.94 points (0.5%). The euro was 0.0005 higher at 1.2290 while the U.S.
dollar index slipped 0.08 to 90.05. March 30-year T-Bonds were 10/32 higher at
143'00 while April gold lost $6.80 to $1,325.20. Crude oil was $0.33 lower at
$61.35 and Brent crude slipped $0.17 to $65.25. China's Dalian soybean futures
were higher and Malaysian palm oil futures were mixed overnight.
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