DTN Early Word Grains 01/09 06:00

DTN Early Word Grains 01/09 06:00 Grains Rally on Trade Talks, Surging Energy Markets March corn up 2 1/4 cents, March soybeans up 2 1/2 cents, and March KC Wheat up 4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn up 2 1/4 cents, March soybeans up 2 1/2 cents, and March KC Wheat up 4 cents. CME Globex Recap: Global equities are higher around the world overnight as optimism reigns surrounding the U.S.-Chinese trade talks. According to media reports, the talks were extended into an unexpected third day as the two sides make progress toward defusing the rift between the world's two largest economies. Crude oil strength is also noteworthy this morning as crude attempts to close higher for the eighth session in a row. Grain markets are higher across the board as traders hope the trade optimism helps confirm the recent Chinese buying rumors. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 256.10 at 23,787.45 and the S&P 500 up 24.72 at 2,574.41 while the 10-yr Treasury yield ended at 2.73%. Early Wednesday, DJIA futures are up 61.00 points. Asian markets are higher with Japan's Nikkei 225 up 223.02 (1.10%) and China's Shanghai Composite up 17.88 points (0.71%). European markets are higher with London's FTSE 100 up 63.73 points (0.93%), Germany's DAX up 92.99 points (0.86%), and France's CAC 40 up 50.94 points (1.07%). The euro was down 0.00075 at 1.14550 and the U.S. dollar index was down 0.0210 at 95.8820. March 30-year T-Bonds were down 14/32nds while February gold was down $4.10 at $1281.80 and February crude oil was up $1.01 at $50.77. Soybeans on China's Dalian Exchange closed up 0.06% while soymeal closed down 0.52%.