DTN Early Word Grains 01/09 06:05

DTN Early Word Grains 01/09 06:05 Grains Firm on Final Session Before WASDE March corn is up 2 1/4 cents per bushel, March soybeans are up 5 cents, and March KC wheat is up 4 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is up 2 1/4 cents per bushel, March soybeans are up 5 cents, and March KC wheat is up 4 3/4 cents. CME Globex Recap: Equity markets are higher overnight, supported by confirmation China's top officials will be traveling to the United States next week to sign the "phase-one" trade deal. While this isn't anything fresh, it does assure markets something concrete will be signed next week. Details are still lacking on the agreement, but a step forward is positive. Grains are carrying a bounce into the Thursday session with a bit more than a day left until the January USDA reports are released. Producers have done a decent job of moving grain ahead of the report to reward the recent rally as cash markets have eased around the country. There is still thought to be plenty of grain to be thrown at a continuation of the rally, however, and South American crops appear on track for current estimates. The focus will quickly shift to the 2020/21 crop as crop insurance pricing period in February nears. That said, the uncertainty about the coming spring, especially in the Northern Plains, will keep farmers hesitant marketers. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 161.41 at 28,745.09 and the S&P 500 up 15.87 at 3,237.18 while the 10-Year Treasury yield ended at 1.874%. Early Thursday, the March DJIA futures are up 95 points. Asian markets are higher with Japan's Nikkei 225 up 535.11 (2.31%) and China's Shanghai Composite up 27.99 points (0.91%). European markets are higher with London's FTSE 100 up 38.55 points (0.51%), Germany's DAX up 163.11 points (1.22%) and France's CAC 40 up 20 points (0.33%). The March Euro is down 0.001 at 1.120 and the March U.S. dollar index is up 0.119 at 97.115. The March 30-Year T-Bond is up 3/32nds, while February gold is down $11.40 at $1,548.80 and February crude oil is up $0.19 at $59.80. Soybeans on China's Dalian Exchange were up 0.21% while soybean meal was down 0.08%.