DTN Early Word Grains 02/21 05:56

DTN Early Word Grains 02/21 05:56 Grains Mixed to Finish Week March corn is up 1/2 cent per bushel, March soybeans are down 1/2 cent, and March KC wheat is down 1/2 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is up 1/2 cent per bushel, March soybeans are down 1/2 cent, and March KC wheat is down 1/2 cent. CME Globex Recap: Equity markets are weaker overnight as investors continue to fret about the coronavirus. According to the Financial Times, Chinese health authorities revised up the number of cases while the Air Transport Association said the virus and related travel bans could cost the industry $30 billion in lost revenue in 2020. As mentioned earlier in the week, economists think economic growth in China could slow to +4.0% from a year earlier in Q1 vs. the government's +6.0% long-term target. It is difficult to see China meeting phase one agreement terms on ag purchases if growth slows by a third. Grain markets are mixed to weaker overnight, awaiting the next round of data from the USDA Outlook Forum. Export sales later Friday morning will also help set the early tone. The February insurance pricing period has one week remaining with all new crop prices down from 2019. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 128.05 at 29,219.98 and the S&P 500 down 12.92 at 3,386.15 while the 10-Year Treasury yield ended at 1.525%. Early Friday, the March DJIA futures are down 101 points. Asian markets are mixed with Japan's Nikkei 225 down 92.41 (-0.39%) and China's Shanghai Composite up 9.52 points (0.31%). European markets are lower with London's FTSE 100 down 21.08 points (-0.28%), Germany's DAX down 25.79 points (-0.19%) and France's CAC 40 down 16.82 points (-0.28%). The March Euro is up 0.001 at 1.080 and the March U.S. dollar index is down 0.131 at 99.645. The March 30-Year T-Bond is up 30/32nds, while April gold is up $16.00 at $1,636.50 and April crude oil is down $0.92 at $52.96. Soybeans on China's Dalian Exchange were down 0.65% while soybean meal was up 0.11%.