DTN Early Word Grains 01/24 05:44

DTN Early Word Grains 01/24 05:44 Grain Markets Higher Wednesday Morning on Oversold Conditions, Weather in Argentina March corn is up 2 1/2 cents per bushel, March soybeans are up 2 1/4 cents, March KC wheat is up 6 1/4 cents, March Chicago wheat is up 6 3/4 cents and March Minneapolis wheat is up 2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is up 2 1/2 cents per bushel, March soybeans are up 2 1/4 cents, March KC wheat is up 6 1/4 cents, March Chicago wheat is up 6 3/4 cents and March Minneapolis wheat is up 2 cents. CME GLOBEX RECAP: World equity markets are mostly higher Wednesday morning. Tuesday's trade in the U.S. was mixed, with another new high in the S&P 500 but a lower close in the Dow due primarily to 3M which was down sharply due to lower guidance. Interest rates were higher, and the market seems to be getting comfortable with the idea that there may not be as many rate cuts next year. Overnight, China cut its reserve rate for Chinese banks, another effort to stimulate the Chinese economy. Wednesday, we will see flash PMI's from S&P in both services and manufacturing. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 96.36 at 37,905.45 and the S&P 500 up 14.17 at 4,864.60, The 10-Year Treasury yield ended at 4.14%. Early Wednesday, the March Dow Jones Futures are up 82 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.25%, spot futures of Germany's DAX is trading up 1.13% and the spot futures of France's CAC 40 Index up 0.81%. Asian markets are mixed with Japan's Nikkei 225 Index down 0.8% and China's Shanghai Composite Index up 1.8%.