DTN Early Word Grains 02/10 06:09

DTN Early Word Grains 02/10 06:09 Grains Mixed to Begin Trading Week March corn is down 4 1/4 cents per bushel, March soybeans are up 3/4 cent, and March KC wheat is down 1 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is down 4 1/4 cents per bushel, March soybeans are up 3/4 cent, and March KC wheat is down 1 1/2 cents. CME Globex Recap: Global equity markets are mostly weaker to begin the week of trade as the focus remains on China and the coronavirus outbreak. Official communication from the Chinese government would lead one to believe strides are being made in containment, but social media fears continue to run rampant with ideas of much larger infection and mortality rates. Oil prices certainly remain fearful of the overall Chinese economic slowdown as the price per barrel for WTI pushes back under $50.00 overnight. It will be interesting to see how central banks around the globe respond to the idea of slowing growth in China from the virus, a Black Swan event no one saw coming. Grain markets are mixed to weaker overnight as corn and wheat prices head lower while soybeans and meal are clinging to small gains. Traders are awaiting the February WASDE on Tuesday, although without "phase-one" related demand changes, the report should be routine. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 277.26 at 29,102.51 and the S&P 500 down 18.07 at 3,345.78 while the 10-Year Treasury yield ended at 1.578%. Early Monday, the March DJIA futures are down 45 points. Asian markets are mixed with Japan's Nikkei 225 down 142 (-0.6%) and China's Shanghai Composite up 14.52 points (0.51%). European markets are lower with London's FTSE 100 down 36.22 points (-0.49%), Germany's DAX down 56.48 points (-0.42%) and France's CAC 40 down 27.46 points (-0.46%). The March Euro is up 0.001 at 1.100 and the March U.S. dollar index is down 0.061 at 98.510. The March 30-Year T-Bond is up 9/32nds, while April gold is up $4.50 at $1,577.90 and March crude oil is down $0.41 at $49.91. Soybeans on China's Dalian Exchange were up 0.35% while soybean meal was up 0.12%.