DTN Early Word Grains 03/13 05:52

DTN Early Word Grains 03/13 05:52 Grains Weaker as Turnaround Tuesday Bounce Eases May corn is down 3/4 cents per bushel, May soybeans are down 2 cents, and May K.C. wheat is down 5 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is down 3/4 cents per bushel, May soybeans are down 2 cents, and May K.C. wheat is down 5 3/4 cents. CME Globex Recap: Equities are mixed this morning, but comments from U.S. trade representative Robert Lighthizer before the Senate finance committee are giving investors pause this morning. President Trump's trade chief said negotiations to end the trade war with China were at risk of failing as "major, major issues" need to be resolved yet and that he could not "predict success at this point." Grains are weaker across the board this morning as wheat gives back about 1/4 of the gains from Tuesday. Funds hold sizable net short positions across the grain room, leaving prices susceptible to bouts of short-covering with no apparent catalyst. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average down 96.22 at 25,554.66 and the S&P 500 up 8.22 at 2,783.30 while the 10-Year Treasury yield ended at 2.605%. Early Wednesday, the March DJIA futures are down 6 points. Asian markets are lower with Japan's Nikkei 225 down 213.45 (-0.99%) and China's Shanghai Composite down 33.36 points (-1.09%). European markets are higher with London's FTSE 100 up 2.88 points (0.04%), Germany's DAX down 12.4 points (-0.11%) and France's CAC 40 down 16.36 points (-0.31%). The March Euro is down 0.001 at 1.130 and the March U.S. dollar index is down 0.059 at 96.840. The June 30-Year T-Bond is down 9/32nds, while April gold is up $9.70 at $1,307.80 and April crude oil is up $0.53 at $57.40. Soybeans on China's Dalian Exchange were up 0.15% while soybean meal was up 0.4%.