DTN Early Word Grains 01/05 05:58

DTN Early Word Grains 01/05 05:58 Chinese Checks and Balances March corn was 2 cents higher, March soybeans were 5 cents higher, and March Chicago wheat was 1 cent higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was 2 cents higher, March soybeans were 5 cents higher, and March Chicago wheat was 1 cent higher. CME Globex Recap: Early morning financial news was filled with talk of China as the government tried to check the collapse in its equity markets and currency by injecting 130 billion yuan into the financial system. Global markets showed little reaction with DJIA futures still showing a triple-digit loss while the U.S. dollar index posting another strong rally. Grains were higher, recovering some of Monday's sell-off. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 276.09 points lower Monday at 17,418.94, reportedly the worst start of trading to a new year since 2008. The NASDAQ Composite was down 104.32 points at 4,903.09. DJIA futures were 106 points lower overnight. Asian markets were lower with the Nikkei down 76.98 points at 18,374.00 and China's Shanghai Composite off another 8.55 points. European markets were mostly lower. The U.S. dollar index was up 0.402 at 99.271. Crude oil was $0.04 lower at $36.72 while Brent crude was $0.09 lower at $37.13. February gold was $2.00 higher at $1,077.20. Dalian soybean futures and Malaysian palm oil futures were both higher.