DTN Early Word Grains 03/02 05:59

DTN Early Word Grains 03/02 05:59 'Tina Trumps Tariff, Trade Talk May corn was 1 cent higher, May soybeans were 8 cents higher, and July Kansas City (HRW) wheat was 2 cents lower. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: May corn was 1 cent higher, May soybeans were 8 cents higher, and July Kansas City (HRW) wheat was 2 cents lower. CME Globex Recap: Soybean meal and soybeans continued to ignore Thursday's promised import tariffs on steel and aluminum, not so thinly veiled at China, and the trade war it could ensure. No, the focus remains on the dry weather across Argentina and the daily murmurings of lower soybean (and therefore soybean meal) production. Corn followed beans higher, at a distance, while wheat gave back a small part of Thursday's impressive rally. Outside markets saw continued downside volatility in DJIA futures while the U.S. dollar index fell back from Thursday's gains. OUTSIDE MARKETS: The Dow Jones Industrial Average closed 420.22 points (1.7%) lower at 24,608.98, the NASDAQ Composite lost 92.45 points (1.3%) to 7,180.56, and the S&P 500 fell 36.16 points (1.3%) to 2,677.67 Thursday. DJIA futures were 235 points lower early Friday morning. Asian markets closed lower with Japan's Nikkei 225 down 542.83 points (2.5%), Hong Kong's Hang Seng falling 460.80 points (1.5%), and China's Shanghai Composite off 19.23 points (0.6%). European markets were trading lower with London's FTSE 100 down 66.95 points (0.9%), Germany's DAX losing 258.48 points (2.1%), and France's CAC 40 dropping 94.67 points (1.8%). The euro was 0.0053 higher at 1.2320 while the U.S. dollar index gave back 0.34 to 89.90. March 30-year T-Bonds were 5/32 higher at 145'16 while April gold gained $18.90 to $1,324.10. Crude oil was $0.01 lower at $60.98 as Brent crude added $0.02 to $63.85. China's Dalian soybean futures were higher and Malaysian palm oil futures were lower overnight.