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DTN Early Word Grains         03/30 05:54
   Not Even Gold is Glittering

   May corn was 1 cent lower, May soybeans were 4 cents lower, and July Kansas
City (HRW) wheat was fractionally lower.

By Darin Newsom
DTN Senior Analyst

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

CME Globex Recap:   Markets in general were lower overnight into Thursday
morning with the exception being Minneapolis spring wheat. There, Wednesday's
strong rally against the rest of the complex carried over into the overnight
session. Soybeans were the weak link, influenced by a sharp sell-off in both
Dalian (China) soybeans and Malaysian palm oil. Energies and metals were both
lower as the U.S. dollar index extended Wednesday's rally, while DJIA futures
were under pressure again.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed 42.18 points (0.2%)
lower at 20,659.32. The NASDAQ Composite gained 22.41 points (0.4%) to 5,897.55
and the S&P 500 rallied 2.56 points (0.1%) to 2,361.13 Wednesday. DJIA futures
were 19 points lower early Thursday morning. Asian markets closed mostly lower
with Japan's Nikkei down 154.26 points (0.8%), Hong Kong's Hang Seng off 90.96
points (0.4%), and China's Shanghai Composite down 31.08 points (1.0%).
European markets were mostly higher Thursday with London's FTSE 100 off 6.50
points (0.1%), Germany's DAX up 13.63 points (0.1%), and France's CAC 40 near
unchanged. The euro was 0.0028 lower at 1.0738 while the U.S. dollar index
gained 0.19 to 100.12. June 30-year T-Bonds were 2/32 higher at 151'09 while
April gold lost $4.20 to $1,249.50. Crude oil dipped $0.17 to $49.34 while
Brent crude slipped $0.33 to $52.09. Dalian soybean and Malaysian palm oil
futures were both lower overnight.
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