DTN Early Word Grains 03/18 05:56

DTN Early Word Grains 03/18 05:56 Grains Mixed as Financial Market Pressure Remains May corn is down 4 cents per bushel, May soybeans are up 6 3/4 cents, and May KC wheat is up 3/4 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is down 4 cents per bushel, May soybeans are up 6 3/4 cents, and May KC wheat is up 3/4 cent. CME Globex Recap: Another day, another overnight circuit breaker trip in equity futures, which should set the stage for another volatile day session. In the early morning hours, fixed income assets sold off sharply, a break with recent days as bonds, normally viewed as safe havens, were dumped in favor of cash according to the Financial Times. The selling has rallied yields with the 10-yr Treasury yield up to 1.19% after trading as low as 0.50% last week. The concerning thing is this move is happening despite massive monetary measures taken by central banks around the globe in recent days along with the promise of big stimulus packages from the White House. Grain markets are mixed overnight with corn notching fresh lows while the soy complex is mostly higher and wheat markets are mixed. The price action in corn this week has been especially concerning and speaks to the financial situation of domestic end users in the United States. Until we see signs of end user profitability improving, bears will be in the driver seat. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 1,048.86 at 21,237.38 and the S&P 500 up 143.06 at 2,386.13 while the 10-Year Treasury yield ended at 0.997%. Early Wednesday, the March DJIA futures are down 821 points. Asian markets are lower with Japan's Nikkei 225 down 284.98 (-1.68%) and China's Shanghai Composite down 50.88 points (-1.83%). European markets are lower with London's FTSE 100 down 244.11 points (-4.61%), Germany's DAX down 428.18 points (-4.79%) and France's CAC 40 down 201.09 points (-5.04%). The June Euro is down 0.001 at 1.100 and the June U.S. dollar index is up 0.026 at 99.830. The June 30-Year T-Bond is down 110/32nds, while April gold is down $26.80 at $1,499.00 and April crude oil is down $1.74 at $25.21. Soybeans on China's Dalian Exchange were up 1.49% while soybean meal was up 0.07%.