DTN Early Word Grains 01/03 05:51

DTN Early Word Grains 01/03 05:51 Grain Markets Mostly Lower After Poor Technical Start to New Year March corn is steady, March soybeans are down 3 3/4 cents, March KC wheat is down 4 1/4 cents, March Chicago wheat is down 2 cents and March Minneapolis wheat is down 1 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is steady, March soybeans are down 3 3/4 cents, March KC wheat is down 4 1/4 cents, March Chicago wheat is down 2 cents and March Minneapolis wheat is down 1 1/2 cents. CME GLOBEX RECAP: World equity markets are mostly lower as stocks began the year worried about interest rates and whether the marketplace has overestimated the number of rate cuts that the Fed will make this year. The yield on the 10-year note rallied to 3.95%, a sizable increase of nearly 8/10 of a full point on the first trading day of the year, and that higher move in rates really weighed on tech stocks. The Dow managed to rally to close slightly higher for Tuesday's session, but the other major indexes were all lower and they are starting lower again Wednesday morning. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 25.50 at 37,715.04 and the S&P 500 down 27.00 at 4,742.83, The 10-Year Treasury yield ended at 3.95%. Early Wednesday, the March Dow Jones Futures are down 63 points. European markets are lower with the spot futures of London's FTSE 100 trading down 0.24%, spot futures of Germany's DAX is trading down 0.54% and the spot futures of France's CAC 40 Index down 1.03%. Asian markets are mixed with Japan's Nikkei 225 Index down 0.22% and China's Shanghai Composite Index up 0.17%.