DTN Early Word Grains 03/25 06:00

DTN Early Word Grains 03/25 06:00 Grains Continue Winning Ways May corn is up 4 1/2 cents per bushel, May soybeans are up 5 1/2 cents, and May KC wheat is up 2 1/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: May corn is up 4 1/2 cents per bushel, May soybeans are up 5 1/2 cents, and May KC wheat is up 2 1/4 cents. CME Globex Recap: Global equity markets are sharply higher again overnight as Washington appears to be closing in on a massive stimulus package to float the economy until the coronavirus measures have passed. The total size of the package according to financial media appears to be around $2 trillion although White House advisor Larry Kudlow threw out $6 trillion in comments on Tuesday. A stimulus package of $6 trillion would almost certainly have inflationary pressure, something which would be bullish commodities. Grain markets are higher overnight across the board, led by corn futures that haven't had upside leadership in what feels like months. Cuts to ethanol production are still the front-burner issue, but export demand does seem to be occurring at these levels. Wednesday morning's update on ethanol production from the Energy Information Agency should offer clues about the state of the industry moving forward. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 2,112.98 at 20,704.91 and the S&P 500 up 209.93 at 2,237.40 while the 10-Year Treasury yield ended at 0.816%. Early Wednesday, the June DJIA futures are up 714 points. Asian markets are higher with Japan's Nikkei 225 up 1454.28 (8.08%) and China's Shanghai Composite up 59.15 points (2.17%). European markets are higher with London's FTSE 100 up 255.05 points (4.68%), Germany's DAX up 408 points (4.21%) and France's CAC 40 up 199.93 points (4.71%). The June Euro is up 0.008 at 1.090 and the June U.S. dollar index is down 0.912 at 101.335. The June 30-Year T-Bond is down 1-2/32nds, while April gold is down $8.40 at $1,652.40 and May crude oil is up $0.56 at $24.57. Soybeans on China's Dalian Exchange were up 2.44% while soybean meal was up 0.68%.