DTN Early Word Grains 02/08 05:40

DTN Early Word Grains 02/08 05:40 Wheat, Soybean Prices Higher Ahead of Wednesday's USDA Report March corn is up 1 1/2 cents, March soybeans are up 11 cents and March KC wheat is up 8 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is up 1 1/2 cents, March soybeans are up 11 cents and March KC wheat is up 8 cents. CME GLOBEX RECAP: Early Wednesday, stock futures in the U.S. were trading lower, giving back part of Tuesday's gain, which seemed related to comments from the Fed Chairman. Federal Reserve Chair Jerome Powell didn't offer much in the way of new monetary clues Tuesday and remains committed to bringing inflation down to 2%, but did acknowledge that inflation was easing. At 9:30 a.m. CST, the Energy Department's weekly report of energy inventories will be out, followed by USDA's WASDE report at 11 a.m., offering updated estimates for South America's crop estimates. Wednesday's earnings reports include Bunge, CME Group and Pilgrims Pride. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 265.67 at 34,156.69 and the S&P 500 up 52.92 at 4,164.00. The 10-Year Treasury yield ended at 3.67%, up from the lowest yield in over four months. Early Wednesday, March Dow Jones futures are down 80 points. Asian markets are lower with Japan's Nikkei 225 index down 0.29% and China's Shanghai Composite Index down 0.49%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.73%, spot futures of Germany's DAX trading up 0.92% and spot futures of France's CAC Index trading up 0.56%. The March euro is up $0.0034 at $1.0776. The March U.S. Dollar Index is down 0.35 at 102.95. The March 30-year T-bond is up 3/32nds, while April gold is up $12.00 at $1,896.80 and March crude oil is up $1.08 at $78.22. On China's Dalian exchange, March corn was down 0.1%, March soybeans were up 0.2%, May soybean meal was down 0.4% and May soybean oil was up 1.2%. April Malaysian palm oil is trading up 1.1%.