DTN Early Word Grains 03/23 05:54

DTN Early Word Grains 03/23 05:54 Grains Higher as China Business Supports May corn is up 1/4 cent per bushel, May soybeans are up 10 1/4 cents, and May KC wheat is up 12 1/2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is up 1/4 cent per bushel, May soybeans are up 10 1/4 cents, and May KC wheat is up 12 1/2 cents. CME Globex Recap: More losses in energies and equities overnight, although in the U.S. futures have recovered from their limit lower move at the open Sunday night. In Washington, a stimulus package which had been agreed upon by both political parties to provide aid for struggling businesses and families was voted down by Democrats at the last minute, raising doubt about swift passage of this relief effort. Another vote will be held on the bill later Monday morning, but markets do not appear to have confidence in lawmaker's ability to answer the call in a timely manner. Grain markets are mixed to higher with corn waffling on either side of unchanged after a two-sided overnight session while sharp gains are being posted in soybeans and wheat. The late-week confirmation of China buying U.S. grains was the jolt our markets needed with hopes more will be confirmed this week. Regardless of the coronavirus, U.S. farmers are gearing up for spring with planters getting ready to roll in a few short weeks. Markets will in-turn be gearing up for the March 31 USDA reports next week which should hold big implications for prices as me move into spring. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 913.21 at 19,173.98 and the S&P 500 down 104.47 at 2,409.39 while the 10-Year Treasury yield ended at 0.938%. Early Monday, the June DJIA futures are down 432 points. Asian markets are mixed with Japan's Nikkei 225 up 334.95 (2.02%) and China's Shanghai Composite down 85.45 points (-3.11%). European markets are lower with London's FTSE 100 down 224.59 points (-4.33%), Germany's DAX down 334.48 points (-3.75%) and France's CAC 40 down 141 points (-3.48%). The June Euro is up 0.002 at 1.070 and the June U.S. dollar index is up 0.083 at 103.585. The June 30-Year T-Bond is up 2-27/32nds, while April gold is up $12.10 at $1,496.70 and May crude oil is down $0.09 at $22.54. Soybeans on China's Dalian Exchange were down -0.02% while soybean meal was up 3.46%.