DTN Early Word Grains 01/21 05:58

DTN Early Word Grains 01/21 05:58 Grains Mostly Weaker Awaiting Chinese Buying Confirmation March corn is down 2 1/2 cents per bushel, March soybeans are down 3 3/4 cents, and March KC wheat is down 2 3/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is down 2 1/2 cents per bushel, March soybeans are down 3 3/4 cents, and March KC wheat is down 2 3/4 cents. CME Globex Recap: Global equities are weaker around the globe, led by Asian shares which closed sharply lower amid concerns about the rapid spread of a potentially deadly pneumonia-like virus originating in central China. As if the African Swine Fever outbreak wasn't bad enough in its impact of southeast Asian hog populations, the latest disease scare threatens to impact actual human populations and bring the movement of people and goods to a halt ahead of the Chinese New Year. Grains are mostly weaker overnight with the exception of Chicago wheat which seems to take everything in stride as of late. The week of the "phase-one" trade agreement brought with it a lot of volatility, but when all was said and done, markets were barely unchanged in most cases. Traders will be hopeful for confirmation from the USDA of Chinese buying this week as well as monitoring South American weather and harvest activity. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 50.46 at 29,348.10 and the S&P 500 up 12.81 at 3,316.81 while the 10-Year Treasury yield ended at 1.836%. Early Tuesday, the March DJIA futures are down 86 points. Asian markets are lower with Japan's Nikkei 225 down 218.95 (-0.91%) and China's Shanghai Composite down 43.65 points (-1.41%). European markets are lower with London's FTSE 100 down 91.05 points (-1.19%), Germany's DAX down 56.4 points (-0.42%) and France's CAC 40 down 63.11 points (-1.04%). The March Euro is up 0.001 at 1.110 and the March U.S. dollar index is down 0.099 at 97.260. The March 30-Year T-Bond is up 23/32nds, while February gold is down $4.30 at $1,556.00 and March crude oil is down $0.54 at $58.04. Soybeans on China's Dalian Exchange were down 0.61% while soybean meal was up 0.48%.