DTN Early Word Grains 02/16 05:53

DTN Early Word Grains 02/16 05:53 Grain Markets Mixed After Bearish Reaction to USDA Outlook Forum Data March corn is up 1 cent per bushel, March soybeans are up 4 1/2 cents, March KC wheat is down 6 3/4 cents, March Chicago wheat is down 4 1/2 cents and May Minneapolis wheat is down 1/2 cent. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is up 1 cent per bushel, March soybeans are up 4 1/2 cents, March KC wheat is down 6 3/4 cents, March Chicago wheat is down 4 1/2 cents and May Minneapolis wheat is down 1/2 cent. CME GLOBEX RECAP: World equity markets are higher again Friday morning with several world indices at or close to new lifetime highs. This is occurring despite the UK and Japan both moving into recession, and interest rates that have increased to above 4.2% for the 10-year note. Thursday's data was mixed, which the marketplace took as good news, believing that both good and bad data is the best case for a "soft landing". The Empire State and Phili-Fed manufacturing surveys were stronger than anticipated, while Retail Sales and Industrial Production were weaker than expected. Friday morning will bring a new read on the PPI numbers, which the Fed will watch closely. The CPI numbers earlier this week were stronger than expected, resulting in a short-lived equity sell-off on Tuesday. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 348.85 at 38,773.12 and the S&P 500 up 29.11 at 5,029.73, The 10-Year Treasury yield ended at 4.24%. Early Friday, the March Dow Jones Futures are down 32 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.99%, spot futures of Germany's DAX is trading up 0.79% and the spot futures of France's CAC 40 Index up 0.59%. Asian markets are higher with Japan's Nikkei 225 Index up 0.86% and China's Shanghai Composite Index remains closed for holiday.