DTN Early Word Grains 03/24 05:57

DTN Early Word Grains 03/24 05:57 Grains Weaker as Gains Consolidated May corn is down 1/4 cent per bushel, May soybeans are down 5 cents, and May KC wheat is down 1 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is down 1/4 cent per bushel, May soybeans are down 5 cents, and May KC wheat is down 1 cent. CME Globex Recap: Sharply higher equity prices around the globe overnight led by a 7.13% gain in Japan and followed by impressive rallies across Europe. Based on equity futures markets, U.S. stocks are in for a strong open as well as they sit up against the limit-higher band overnight. While markets mainly traded lower on the news when it was announced, it seems investors are encouraged about the Federal Reserve's pledge to buy an "unlimited amount" of corporate debt, something it stopped short of during the 2008 financial crisis. Some analysts are calling it the "Fed Bazooka," and it could be the sort of drastic measure our markets need at this time. Grain markets are lower across the board early Tuesday as the sharp gains in wheat and soybeans on Monday are consolidated. The fact corn has started to stabilize is encouraging and could be a sign the worst of the selling is behind it. Traders are looking forward to the March 31 USDA reports in hopes of refocusing on market fundamentals. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average down 582.05 at 18,591.93 and the S&P 500 down 67.52 at 2,304.92 while the 10-Year Treasury yield ended at 0.764%. Early Tuesday, the June DJIA futures are up 930 points. Asian markets are higher with Japan's Nikkei 225 up 1204.57 (7.13%) and China's Shanghai Composite up 62.27 points (2.34%). European markets are higher with London's FTSE 100 up 212.33 points (4.25%), Germany's DAX up 558.4 points (6.39%) and France's CAC 40 up 193.06 points (4.93%). The June Euro is up 0.013 at 1.090 and the June U.S. dollar index is down 1.425 at 101.815. The June 30-Year T-Bond is down 1-26/32nds, while April gold is up $78.40 at $1,646.00 and May crude oil is up $1.28 at $24.64. The Dalian Exchange was closed while Malaysian Palm Oil settled up 2.71%.