DTN Early Word Grains 01/06 06:00

DTN Early Word Grains 01/06 06:00 Grains Soft as Headline Selling Continues March corn is down 1/2 cent per bushel, March soybeans are down 2 3/4 cents, and March KC wheat is down 4 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is down 1/2 cent per bushel, March soybeans are down 2 3/4 cents, and March KC wheat is down 4 3/4 cents. CME Globex Recap: Global unrest continues this week with risk assets being hit and safe haven assets in demand after tensions flared between the U.S. and Iran over the weekend. News outlets reported Sunday the Iraq parliament voted to expel U.S. troops from the country following the attacks on Iranian military personnel, a move which brought the threat of sanctions on Iraq by the Trump Administration. This conflict does not appear to be going away soon with the threat of escalation much more likely than de-escalation as it stands today. Grains are weaker overnight, following the overall trend across financial markets. It is difficult for bulls to focus on supportive elements when money flows are clearly in the driver's seat. Later this week the focus will shift more fully back to the ag space as the USDA unveils its latest suite of reports. Until then, expect headlines to drive price direction as funds weigh market fundamentals with technically driven flows. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 233.92 at 28,634.88 and the S&P 500 down 23.00 at 3,257.85 while the 10-Year Treasury yield ended at 1.788%. Early Monday, the March DJIA futures are down 181 points. Asian markets are lower with Japan's Nikkei 225 down 451.76 (-1.91%) and China's Shanghai Composite down 0.38 points (-0.01%). European markets are lower with London's FTSE 100 down 76.11 points (-1%), Germany's DAX down 219.12 points (-1.66%) and France's CAC 40 down 68.85 points (-1.14%). The March Euro is up 0.003 at 1.130 and the March U.S. dollar index is down 0.276 at 96.245. The March 30-Year T-Bond is up 3/32nds, while February gold is up $27.70 at $1,580.10 and February crude oil is up $0.78 at $63.83. Soybeans on China's Dalian Exchange were down 0.03% while soybean meal was down 0.9%.