DTN Early Word Grains 02/08 05:52

DTN Early Word Grains 02/08 05:52 Firmer Markets Ahead of Much Anticipated USDA Reports March corn is up 1 1/4 cents per bushel, March soybeans are up 2 cents, and March K.C. wheat is up 1 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is up 1 1/4 cents per bushel, March soybeans are up 2 cents, and March K.C. wheat is up 1 cent. CME Globex Recap: Global equities are mixed to lower this morning after President Trump ruled out a meeting between himself and Chinese president Xi before the March 1 "cease fire" deadline. Many viewed a meeting between the two leaders as the best chance for a "grand deal." More likely now will be a partial deal, allowing negotiations to continue without additional tariffs after March 1. Grains are mostly higher this morning as traders await the first major USDA reports since early December. Most contracts remain well-inside of recent ranges with today providing the first genuine opportunity to see breakouts in several months. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 220.77 at 25,169.53 and the S&P 500 down 25.56 at 2,731.61 while the 10-Year Treasury yield ended at 2.652%. Early Friday, the March DJIA futures are down 74 points. Asian markets are lower with Japan's Nikkei 225 down 418.11 (-2.01%) and China's Shanghai Composite is closed. European markets are mixed with London's FTSE 100 up 4.87 points (0.07%), Germany's DAX down 3.78 points (-0.03%) and France's CAC 40 up 3.29 points (0.07%). The March Euro is down 0.002 at 1.140 and the March U.S. dollar index is up 0.111 at 96.400. The March 30-Year T-Bond is up 3/32nds, while April gold is up $0.70 at $1,314.90 and March crude oil is down $0.07 at $52.57. China's Dalian Commodity Exchange is closed.