DTN Early Word Grains 03/05 06:01

DTN Early Word Grains 03/05 06:01 Grains Mostly Lower as Momentum Remains Fleeting May corn is unchanged, May soybeans are down 2 1/2 cents, and May K.C. wheat is unchanged. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is unchanged, May soybeans are down 2 1/2 cents, and May K.C. wheat is unchanged. CME Globex Recap: Global equity markets were a bit unnerved Monday night when China lowered its target for economic growth this year, blaming the slowdown on the impact of the U.S.-China trade war. At the country's annual legislative session, a range of 6.0-6.5% was given vs. a hard target of 6.5% growth over the last two years. Several senior officials in China made it clear, economic reforms would come as quickly as China wants them to. Grain markets are trading sluggishly overnight with most contracts giving up early gains. Traders are looking ahead to what should be a fairly quiet WASDE report on Friday as well as more details about a possible summit on March 27 between President's Trump and Xi. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average down 206.67 at 25,819.65 and the S&P 500 down 10.88 at 2,803.69 while the 10-Year Treasury yield ended at 2.722%. Early Tuesday, the March DJIA futures are up 44 points. Asian markets are lower with Japan's Nikkei 225 down 95.76 (-0.44%) and China's Shanghai Composite up 26.67 points (0.88%). European markets are lower with London's FTSE 100 up 21.11 points (0.3%), Germany's DAX down 4.75 points (-0.04%) and France's CAC 40 down 3.79 points (-0.07%). The March Euro is down 0.001 at 1.130 and the March U.S. dollar index is up 0.075 at 96.685. The June 30-Year T-Bond is down 9/32nds, while April gold is down $2.00 at $1,285.50 and April crude oil is down $0.36 at $56.23. Soybeans on China's Dalian Exchange were up 0.12% while soybean meal was down -0.12%.