DTN Early Word Grains 02/07 06:07

DTN Early Word Grains 02/07 06:07 Grains Mixed to Close Ho-Hum Week March corn is up 1 1/4 cents per bushel, March soybeans are are down 1/4 cent, and March KC wheat is up 1/4 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is up 1 1/4 cents per bushel, March soybeans are are down 1/4 cent, and March KC wheat is up 1/4 cent. CME Globex Recap: Global equity markets are mostly weaker overnight, giving back a portion of the week's gains. With the impeachment trial behind the market, hopefully the focus can shift back to economic conditions and trade. There was an article out overnight by the Financial Times stating copper traders in China have asked miners from Chile to Nigeria to cancel or delay shipments due to coronavirus, effectively declaring force majeure. We are hopeful the same does not occur with agriculture products as some are fearing. Ag markets are mixed with corn and Kansas City wheat higher while soybeans and Chicago wheat are lower. It feels as though trade hasn't gone anywhere this week with most contracts locked in a trading range. Traders will be looking forward to the February 11 WASDE report as well as the February 15 date when the "phase-one" agreement officially goes into effect. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average up 88.92 at 29,379.77 and the S&P 500 up 11.09 at 3,334.69 while the 10-Year Treasury yield ended at 1.644%. Early Friday, the March DJIA futures are down 131 points. Asian markets are mixed with Japan's Nikkei 225 down 45.61 (-0.19%) and China's Shanghai Composite up 9.45 points (0.33%). European markets are lower with London's FTSE 100 down 49.97 points (-0.67%), Germany's DAX down 89.07 points (-0.66%) and France's CAC 40 down 17.52 points (-0.29%). The March Euro is down 0.002 at 1.100 and the March U.S. dollar index is up 0.089 at 98.470. The March 30-Year T-Bond is up 24/32nds, while April gold is up $1.20 at $1,571.20 and March crude oil is down $0.34 at $50.61. Soybeans on China's Dalian Exchange were up 0.5% while soybean meal was down 0.15%.