DTN Early Word Grains 01/31 05:46

DTN Early Word Grains 01/31 05:46 Grain Prices, Energies Pull Back Early Tuesday March corn is down 2 cents, March soybeans are down 7 cents and March KC wheat is down 6 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is down 2 cents, March soybeans are down 7 cents and March KC wheat is down 6 cents. CME GLOBEX RECAP: Early Tuesday, stock futures in the U.S. were trading lower, in line with Asia and Europe as investors face the same concerns of inflation and higher interest rates. The lower start comes after overnight news that real GDP in the Euro zone was up 0.1% in the fourth quarter and up 1.9% from a year ago, a little higher than expected. Late Monday, the Wall Street Journal reported the International Monetary Fund reported increased its estimate of global GDP growth in 2023 from 2.7% to 2.9%. At 7:30 a.m. CST Tuesday, the U.S. Labor Department will release its employment cost index for the fourth quarter, a factor for the Fed to consider in this week's meeting. USDA's Jan. 1 cattle inventory at 2 p.m. Tuesday's earnings reports include several well-known companies, such as Exxon Mobil, General Motors, McDonalds, Caterpillar, Canadian Pacific Railway, UPS and more. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average down 260.99 at 33,717.09 and the S&P 500 down 52.79 at 4,017.77. The 10-Year Treasury yield ended at 3.55%, up from the lowest yields in four months. Early Tuesday, March Dow Jones futures are down 195 points. Asian markets are lower with Japan's Nikkei 225 index down 0.39% and China's Shanghai Composite Index down 0.42%. European markets are lower with the spot futures of the London FTSE 100 trading down 0.75%, spot futures of Germany's DAX trading down 0.74% and spot futures of France's CAC Index trading down 0.59%. The March euro is down $0.0021 at $1.0856. The March U.S. Dollar Index is up 0.22 at 102.31. The March 30-year T-bond is up 7/32nds, while April gold is down $18.80 at $1,904.10 and March crude oil is down $1.22 at $76.68. On China's Dalian exchange, March corn was down 1.1%, March soybeans were up 0.7%, May soybean meal was up 0.8% and May soybean oil was down 0.2%. April Malaysian palm oil is trading down 3.1%.