DTN Early Word Grains 03/08 05:32

DTN Early Word Grains 03/08 05:32 Crop Prices Steady to Lower Ahead of USDA Report May corn is steady, May soybeans are down 3 cents and May KC wheat is down 3 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is steady, May soybeans are down 3 cents and May KC wheat is down 3 cents. CME GLOBEX RECAP: Early Wednesday, stock futures in the U.S. are starting a little higher, coming off a lower day after Federal Reserve Chairman Jerome Powell told the Senate Banking Committee the Fed was ready to accelerate increases in the federal funds rate, if needed to lower inflation. Powell returns to Congress for a second day, typically repeating what he said Tuesday. The U.S. Commerce Department will have its report of the January U.S. trade deficit at 7:30 a.m. CST, followed by the Energy Department's weekly inventory report at 9:30 a.m. USDA's WASDE and Crop Production reports are at 11 a.m. and the Federal Reserve's Beige Book is at 1 p.m. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 574.98 at 32,856.46 and the S&P 500 Index down 62.05 at 3,986.37. The 10-Year Treasury yield ended at 3.98%. Early Wednesday, March Dow Jones futures are up 41 points. European markets are mixed with the spot futures of the London FTSE 100 trading down 0.21%, spot futures of Germany's DAX trading up 0.12% and spot futures of France's CAC Index trading down 0.20%. Asian markets are mixed with Japan's Nikkei 225 index up 0.48% and China's Shanghai Composite Index down 0.06%.