DTN Early Word Grains 01/26 05:55

DTN Early Word Grains 01/26 05:55 Trump Trumps Mnuchin, Trumped by Market March corn was 1 cent higher, March soybeans were fractionally higher, and March Chicago (SRW) wheat was 2 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was 1 cent higher, March soybeans were fractionally higher, and March Chicago (SRW) wheat was 2 cents higher. CME Globex Recap: The back and forth within the Trump administration itself regarding the U.S. dollar is like watching irritating arguments on reality television. A day after Treasury Secretary Mnuchin said the administration wasn't concerned about a weaker dollar, that it was good for exports and the economy, President Trump countered with talk that the U.S. wanted a strong dollar. Overnight trade would show market forces lining up with Secretary Mnuchin as the greenback got pummeled once again. However, unlike earlier in the week commodities didn't react by rallying, with gold trading lower early Friday. The grain and oilseed complex was quietly mixed with wheat still stronger on weather. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 140.67 points (0.5%) higher at 26,392.79, the NASDAQ Composite dipped 3.89 points to 7,411.16, and the S&P 500 added 1.71 points to 2,839.25 Thursday. DJIA futures were 55 points higher early Friday morning. Asian markets closed mixed with Japan's Nikkei 225 down 37.61 points (0.2%), Hong Kong's Hang Seng up 499.67 points (1.5%), and China's Shanghai Composite rallying 9.82 points (0.3%). European markets were trading higher with London's FTSE 100 up 39.86 points (0.5%), Germany's DAX gaining 5.89 points, and France's CAC 40 adding 48.59 points (0.9%). The euro was 0.0061 higher at 1.2457 as the U.S. dollar index fell another 0.58 to 88.87. March 30-year T-Bonds were 8/32 lower at 149'05 while February gold lost $9.40 to $1,353.50. Crude oil was $0.16 higher at $65.67 and Brent crude added $0.14 to $70.56. China's Dalian soybean and Malaysian palm oil futures were both lower overnight.