DTN Early Word Grains 02/05 05:35

DTN Early Word Grains 02/05 05:35 Grain Markets Lower Monday Morning on Brazilian Harvest Pressure, Argentine Rain Forecasts March corn is down 2 1/2 cents per bushel, March soybeans are down 3/4 cent, March KC wheat is down 6 1/4 cents, March Chicago wheat is down 6 cents and March Minneapolis wheat is down 4 3/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is down 2 1/2 cents per bushel, March soybeans are down 3/4 cent, March KC wheat is down 6 1/4 cents, March Chicago wheat is down 6 cents and March Minneapolis wheat is down 4 3/4 cents. CME GLOBEX RECAP: World equity markets are mixed Monday morning as western markets are catching up to Friday's strong close in the U.S. while China's market continues to fall. Friday's jobs report was very strong, pushing interest rates back above 4% in the 10-year note. However, this underlying strength in the economy was not taken as a negative by equity traders, and both the DJIA and the S&P 500 closed at new lifetime highs. This weekend, Fed Chairman Powell once again spoke and suggested that the Fed is getting more confident about achieving their inflation goals but that they need a little more confidence to make their first rate cut. The major geopolitical story Monday morning is the U.S. and UK attack on Houthi positions in Yemen, which are not providing any major impact to either oil or equity markets. This week's calendar is much lighter for economic data, with the ISM services PMI Monday morning, the U.S. trade deficit on Wednesday morning, a consumer credit report on Wednesday afternoon, and initial jobless claims and wholesale inventories also on Thursday. In agriculture, we will get our normal reports including export inspections Monday, ethanol production data Wednesday, export sales on Thursday, and the CFTC commitment of traders on Friday. Most importantly, we will also get the USDA February Supply and Demand report on Thursday at 11 a.m. Average trade estimates should be out Monday. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 134.58 at 38,654.42 and the S&P 500 up 52.42 at 4,958.61. The 10-Year Treasury yield ended at 4.03%. Early Monday, the March Dow Jones Futures are down 96 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.36%, spot futures of Germany's DAX is trading up 0.21% and the spot futures of France's CAC 40 Index up 0.03%. Asian markets are mixed with Japan's Nikkei 225 Index up 0.54% and China's Shanghai Composite Index down 1.02%.