DTN Early Word Grains 02/14 06:01

DTN Early Word Grains 02/14 06:01 Grains Quiet as Markets Await Trade Talk Outcome March corn is down 3/4 cents per bushel, March soybeans are up 1/2 cents, and March K.C. wheat is down 1 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is down 3/4 cents per bushel, March soybeans are up 1/2 cents, and March K.C. wheat is down 1 1/2 cents. CME Globex Recap: Financial markets are mostly higher around the globe this morning as optimism reigns regarding to the U.S.-China trade talks. Wednesday evening, President Trump mentioned he would be open to a 60-day extension to the trade talks now that things appear to be progressing well. As many analysts have pointed out, to come all this way and not produce a meaningful change in U.S.-Chinese trade relations would be a major opportunity wasted. Grains are mostly weaker but inside ranges as we await trade war developments. The spring insurance guarantee prices look to set up an interesting acreage tussle between corn, soybeans and wheat, especially across the Northern Plains. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 117.51 at 25,543.27 and the S&P 500 up 8.30 at 2,744.73 while the 10-Year Treasury yield ended at 2.708%. Early Thursday, the March DJIA futures are up 106 points. Asian markets are lower with Japan's Nikkei 225 down 157.89 (-0.44%) and China's Shanghai Composite down 1.37 points (-0.05%). European markets are higher with London's FTSE 100 up 25.66 points (0.36%), Germany's DAX up 44.37 points (0.4%) and France's CAC 40 up 41.4 points (0.82%). The March Euro is down 0.000 at 1.130 and the March U.S. dollar index is up 0.047 at 96.985. The March 30-Year T-Bond is up 5/32nds, while April gold is down $6.00 at $1,309.10 and March crude oil is up $0.56 at $54.46. Soybeans on China's Dalian Exchange were down -0.4% while soybean meal was up 0.08%.