DTN Early Word Grains 01/13 06:01

DTN Early Word Grains 01/13 06:01 Grains Mixed, Weak as Trade Consolidates After USDA March corn is up 1/2 cent per bushel, March soybeans are down 3 1/4 cents, and March KC wheat is down 3 1/2 cents. By Todd Hultman DTN Lead Analyst 6:00 a.m. CME Globex: March corn is up 1/2 cent per bushel, March soybeans are down 3 1/4 cents, and March KC wheat is down 3 1/2 cents. CME Globex Recap: Financial markets are stronger around the globe, beginning an important week with multiple price drivers. First, the U.S. and China are expected to sign the "phase-one" trade deal on January 15 with text and details of the deal to be released immediately after the signing. The actual details will be crucial for determining how good of a deal it is and what a "phase-two" deal might need to include. Also this week, the Senate could begin the impeachment trial of President Trump which could hold influence over financial markets even if expectations are for acquittal. Lastly, the European Union's new trade chief, Phil Hogan, will visit the nation's capital to begin talks with U.S. Trade Representative Lighthizer. Grain markets are mixed with soybeans and wheat weaker while corn holds small gains. Traders will still be digesting Friday's USDA reports this week, but for the most part, range-bound trade should continue as we await more information on Chinese trade and South American crops. Nothing Friday should change the narratives already in place and the February crop insurance pricing period will be here before we know it. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 133.13 at 28,823.77 and the S&P 500 down 9.35 at 3,274.70 while the 10-Year Treasury yield ended at 1.825%. Early Monday, the March DJIA futures are up 119 points. Asian markets are higher with Japan's Nikkei 225 up 110.7 (0.47%) and China's Shanghai Composite up 23.28 points (0.75%). European markets are higher with London's FTSE 100 up 39.74 points (0.52%), Germany's DAX up 3.07 points (0.02%) and France's CAC 40 up 15.95 points (0.26%). The March Euro is down 0.001 at 1.120 and the March U.S. dollar index is up 0.137 at 97.215. The March 30-Year T-Bond is down 13/32nds, while February gold is down $9.50 at $1,550.60 and February crude oil is down $0.08 at $58.96. Soybeans on China's Dalian Exchange were up 0.93% while soybean meal was down 0.97%.