DTN Early Word Grains 01/02 05:42

DTN Early Word Grains 01/02 05:42 Grain Markets Scheduled to Open at 8:30 a.m. CST; Mixed Open Expected Grain markets re-open at 8:30 a.m. CST Tuesday morning. Based on news reports and overseas markets, we expect corn steady to 1 lower, soybeans to open 2-5 cents lower while wheat should open 1-3 higher. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX: Grain markets re-open at 8:30 a.m. CST Tuesday morning. Based on news reports and overseas markets, we expect corn steady to 1 lower, soybeans to open 2-5 cents lower while wheat should open 1-3 higher. CME GLOBEX RECAP: World equity markets are mixed Tuesday morning, with European markets mostly higher to begin the year. Energy prices are sharply higher to begin the year as China has issued a much larger than anticipated quantity of import quotas to private refiners. Military activity in the Red Sea also is concerning, with the U.S. stepping up retaliatory actions against Houthi rebels, and Iran dispatching a warship to the area. Meanwhile, the war in Ukraine continued to escalate over the weekend although there were no reports of attacks on grain export facilities. Chinese economic data on the first trading day of the year showed continued weakness. This week, major economic reports include a report on Construction Spending Tuesday morning. On Wednesday, the ISM manufacturing index will be released, as will Auto Sales, U.S. Job Openings, and the minutes of the Fed's December meeting. Thursday brings the ADP employment estimate and weekly initial jobless claim. The biggest report of the week comes Friday with the December Unemployment report. In agriculture, the New Year's holiday will push back most reports a day, as Export Inspections will be released Tuesday morning, Ethanol Production will come on Thursday, and Export Sales will be released on Friday. The CFTC report will be released on Friday as usual. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 20.56 at 37,689.54 and the S&P 500 down 13.52 at 4,769.83, The 10-Year Treasury yield ended at 3.87%. Early Tuesday, the March Dow Jones Futures are down 119 points. European markets are mixed with the spot futures of London's FTSE 100 trading down 0.06%, spot futures of Germany's DAX is trading up 0.35% and the spot futures of France's CAC 40 Index up 0.11%. Asian markets are lower with Japan's Nikkei 225 Index down 0.22% and China's Shanghai Composite Index down 0.43%.