DTN Early Word Grains 01/20 05:56

DTN Early Word Grains 01/20 05:56 Global Market Death Spiral March corn was fractionally higher, March soybeans were 4 cents lower, and March Chicago wheat was 2 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: March corn was fractionally higher, March soybeans were 4 cents lower, and March Chicago wheat was 2 cents lower. CME Globex Recap: Maybe the phrase "death spiral" is a bit dramatic, but markets were lower again overnight with sharp losses seen in global equities. DJIA futures were off more than 300 points, indicating U.S. stocks are set to take a solid punch Wednesday. Commodities in general were under pressure, though natural gas and gold posted small gains. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 27.94 higher at 16,016.02, the NASDAQ Composite was down 11.47 points at 4,476.95, and the S&P 500 gained 1.00 points to close 1,881.33 Tuesday. DJIA futures were 308 points lower overnight. Asian markets were lower with the Nikkei down 632.18 points (3.7%) and China's Shanghai Composite off 31.05 points (1.0%). European markets were also lower. The U.S. dollar index was down 0.010 at 98.981. Crude oil was $0.82 lower at $27.64 while Brent crude was $0.63 lower at $28.13. February gold was $5.60 higher at $1,094.70. Dalian soybean futures were quietly higher while Malaysian palm oil futures were lower.