DTN Early Word Grains 02/20 05:42

DTN Early Word Grains 02/20 05:42 Grain Markets Mostly Higher, Correcting Oversold Levels on Value Buying March corn is up 3 1/4 cents per bushel, March soybeans are up 10 1/2 cents, May KC wheat is up 1 cent, March Chicago wheat is up 1/4 cent and May Minneapolis wheat is down 3 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is up 3 1/4 cents per bushel, March soybeans are up 10 1/2 cents, May KC wheat is up 1 cent, March Chicago wheat is up 1/4 cent and May Minneapolis wheat is down 3 cents. CME GLOBEX RECAP: World equity markets are mixed with the U.S. market lower after U.S. markets posted lower weekly closes for the first time in five weeks on Friday. Higher interest rates drove the profit taking in U.S. equites which made new lifetime highs earlier in the week. Comments from members of the Federal Reserve continue to indicate less interest rate cuts this year than had previously been priced into the marketplace. It will be a light week for economic data, with U.S. leading economic indicators out Tuesday morning. On Thursday, we will get Home Sales, Jobless Claims, and flash PMI readings in both services and manufacturing from S&P. Federal reserve members will be active with a number of speeches. In agriculture, Tuesday will bring the Export Inspections data at 10 a.m. CST, with ethanol production being released on Wednesday at 10 a.m., Export Sales on Thursday at 7:30 a.m. CST, and new CFTC data on Friday afternoon. Livestock will see a cold storage report and a cattle on feed report Friday afternoon at 2 p.m. CST. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 145.13 at 38,627.99 and the S&P 500 down 24.16 at 5,005.57, The 10-Year Treasury yield ended at 4.30%. Early Tuesday, the March Dow Jones Futures are down 154 points. European markets are mixed with the spot futures of London's FTSE 100 trading up 0.05%, spot futures of Germany's DAX is trading down 0.24% and the spot futures of France's CAC 40 Index up 0.24%. Asian markets are mixed with Japan's Nikkei 225 Index down 0.28% and China's Shanghai Composite Index up 0.42%.