DTN Early Word Grains 03/17 05:55

DTN Early Word Grains 03/17 05:55 Grains Mixed to Higher as Trade Looks for Solid Ground May corn is up 1/2 cent per bushel, May soybeans are up 7 cents, and May KC wheat is down 1 1/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is up 1/2 cent per bushel, May soybeans are up 7 cents, and May KC wheat is down 1 1/4 cents. CME Globex Recap: Mixed to lower equity markets around the globe, although U.S. stock futures are pointing toward a lower open after the upper-band circuit breaker was triggered in the early evening hours. On Monday, equities featured their worst single-day sell-off since 1987, and followed it with a 4.0% rally in futures overnight before completely relinquishing that gain early Tuesday morning. The volatility in our markets right now can put even the most deep-pocketed investor in the poor house and that doesn't look to be changing anytime soon. Wall Street's response now feels as though it will be tied tightly to the number of coronavirus cases and deaths in the immediate future. With states implementing a practical lockdown for all citizens beginning Tuesday evening, the response should reach make or break it time very soon. Grains are stabilizing overnight with gains in soybeans and corn while wheat posts small losses. The double-digit losses witnessed across the board Monday felt like the trade finally acknowledging the reality being felt in equities and fixed income. Fundamentals are taking a back seat at the moment, although it is difficult to dismiss the profitability of end users at the moment. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average down 2,997.10 at 20,188.52 and the S&P 500 down 324.89 at 2,711.02 while the 10-year Treasury yield ended at 0.728%. Early Tuesday, the March DJIA futures are down 229 points. Asian markets are mixed with Japan's Nikkei 225 up 9.49 (0.06%) and China's Shanghai Composite down 9.61 points (-0.34%). European markets are lower with London's FTSE 100 down 75.58 points (-1.47%), Germany's DAX down 81.47 points (-0.93%) and France's CAC 40 down 39.56 points (-1.02%). The March euro is up 0.006 at 1.110 and the March U.S. dollar index is down 0.524 at 98.240. The June 30-year T-Bond is down 45/32nds, while April gold is down $10.20 at $1,476.30 and April crude oil is up $0.05 at $28.75. Soybeans on China's Dalian Exchange were up 0.26% while soybean meal was up 0.18%.