DTN Early Word Grains 02/21 05:48

DTN Early Word Grains 02/21 05:48 Grain Markets are Lower Wednesday Morning, Correcting a Portion of Tuesday's Gains March corn is down 3/4 cent per bushel, March soybeans are down 6 1/4 cents, May KC wheat is down 2 1/4 cents, May Chicago wheat is down 3 3/4 cents and May Minneapolis wheat is down 3 3/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is down 3/4 cent per bushel, March soybeans are down 6 1/4 cents, May KC wheat is down 2 1/4 cents, May Chicago wheat is down 3 3/4 cents and May Minneapolis wheat is down 3 3/4 cents. CME GLOBEX RECAP: World equity markets are mixed with the U.S. market lower once again as high interest rates and hawkish Fed-speak continue to spark a correction in U.S. stocks off last week's highs. World markets are a little more mixed, with China's stock market continuing to find support. Tuesday, the Chinese government lowered interest rates by a 1/4 point in an effort to stimulate their economy. We do not have new economic data Wednesday morning. Tuesday's leading economic indicators were a little softer than traders anticipated. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 64.19 at 38,563.80 and the S&P 500 down 30.06 at 4,975.51, The 10-Year Treasury yield ended at 4.28%. Early Wednesday, the March Dow Jones Futures are down 73 points. European markets are mixed/higher/lower with the spot futures of London's FTSE 100 trading down 0.86%, spot futures of Germany's DAX is trading up 0.36% and the spot futures of France's CAC 40 Index up 0.22%. Asian markets are mixed/higher/lower with Japan's Nikkei 225 Index down 0.26% and China's Shanghai Composite Index up 0.97%.