DTN Early Word Grains 02/23 05:37

DTN Early Word Grains 02/23 05:37 Crop Prices Lower Ahead of Thursday's Ag Outlook Forum May corn is down 1 cent, May soybeans are down 4 cents and May KC wheat is down 4 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is down 1 cent, May soybeans are down 4 cents and May KC wheat is down 4 cents. CME GLOBEX RECAP: Early Wednesday, stock futures in the U.S. are starting higher with mixed trade in Europe. Wednesday's winter storm paralyzed travel in northern states and resulted in over 3,500 flight delays or cancellations, reported Reuters. U.S. weekly jobless claims, an update of fourth-quarter U.S. GDP and an update of the U.S. Drought Monitor are all set for 7:30 a.m. CST Thursday. The U.S. Energy Department's natural gas storage report will be out at 9:30 a.m., followed by energy inventories at 10 a.m. Thursday's long list of earnings reports includes Valmont Industries. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 84.50 at 33,045.09 and the S&P 500 down 6.29 at 3,991.05. The 10-Year Treasury yield ended at 3.92%, near the highest yield in over three months. Early Thursday, March Dow Jones futures are up 73 points. Asian markets are lower with Japan's Nikkei 225 index down 1.34% and China's Shanghai Composite Index down .11%. European markets are mixed with the spot futures of the London FTSE 100 trading down 0.09%, spot futures of Germany's DAX trading up 0.42% and spot futures of France's CAC Index trading up 0.30%. The March euro is down $0.0013 at $1.060. The March U.S. Dollar Index is up 0.05 at 104.57. The March 30-year T-bond is down 7/32nds, while April gold is down $8.40 at $1,833.10 and April crude oil is up $0.25 at $74.20. On China's Dalian exchange, May corn was down 0.1%, May soybeans were down 0.7%, May soybean meal was down 0.6% and May soybean oil was down 0.3%. May Malaysian palm oil is trading up 2.1%.