DTN Early Word Grains 01/12 05:56

DTN Early Word Grains 01/12 05:56 Marking Time Early Tuesday March corn was fractionally lower, March soybeans were 1 cent higher, and March Chicago wheat was fractionally higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was fractionally lower, March soybeans were 1 cent higher, and March Chicago wheat was fractionally higher. CME Globex Recap: The grain markets were quiet overnight, following Monday's sharp sell-off with narrowly mixed trade as traders marked time ahead of Tuesday's release of USDA's plethora of reports. Corn was fractionally lower, wheat fractionally higher, and soybeans were up about 1 cent early Tuesday. Outside markets continue to focus on the Chinese economy and collapsing crude oil market. As for the latter, it dipped back below $31 during the overnight session. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 52.12 higher at 16,398.57 Monday while the NASDAQ Composite was down 5.65 points at 4,637.99. DJIA futures were 101 points higher overnight. Asian markets were mixed with the Nikkei down 479 points (2.7%) while China's Shanghai Composite gained a modest 6.16 points (0.2%). European markets were higher. The U.S. dollar index was up 0.198 at 98.923. Crude oil was $0.13 lower at $31.28 while Brent crude was unchanged at $31.55. February gold was $4.80 lower at $1,091.40. Dalian soybean and Malaysian palm oil futures were both lower.