DTN Early Word Grains 01/31 06:05

DTN Early Word Grains 01/31 06:05 Grains Mixed as Interest Rates Buoy, Export Sales Data Eyed March corn is down 1/2 cents per bushel, March soybeans are up 2 1/2 cents, and March K.C. wheat is down 1 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is down 1/2 cents per bushel, March soybeans are up 2 1/2 cents, and March K.C. wheat is down 1 3/4 cents. CME Globex Recap: Global equities are mostly higher following an about-face by the U.S. Federal Reserve Wednesday with regard to interest rate policy. Comments from The Fed seemed to suggest a halt to the raising of interest rates and even a willingness to curb its balance sheet reduction program if necessary. The Federal Funds Futures market fell sharply as interest rate expectations have been cut. Mostly weaker futures overnight as traders prepare for the first export sales data in over a month. The data will be staggered over the next month, however, limiting its near-term usefulness. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 434.90 at 25,014.86 and the S&P 500 up 41.05 at 2,640.00 while the 10-Year Treasury yield ended at 2.695%. Early Thursday, the March DJIA futures are down 4 points. Asian markets are higher with Japan's Nikkei 225 higher 216.95 (1.06%) and China's Shanghai Composite higher 9 points (0.35%). European markets are higher with London's FTSE 100 higher 23.8 points (0.34%), Germany's DAX down 9.57 points (-0.09%) and France's CAC 40 up 5.68 points (0.11%). The March Euro is down 0.002 at 1.150 and the March U.S. dollar index is up 0.029 at 95.060. The March 30-Year T-Bond is up 17/32nds, while February gold is up $12.10 at $1,322.00 and March crude oil is down $0.04 at $54.19. Soybeans on China's Dalian Exchange were up 0.12% while soybean meal was up 0.59%.