DTN Early Word Grains 02/29 05:45

DTN Early Word Grains 02/29 05:45 Grain Markets Mixed After Three-Day Corn Rally; Soybeans Fall on Deliveries May corn is down 3/4 cent per bushel, May soybeans are down 8 1/2 cents, May KC wheat is up 1 cent, May Chicago wheat is up 1 cent and May Minneapolis wheat is up 1 1/2 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is down 3/4 cent per bushel, May soybeans are down 8 1/2 cents, May KC wheat is up 1 cent, May Chicago wheat is up 1 cent and May Minneapolis wheat is up 1 1/2 cents. CME GLOBEX RECAP: World equity markets are mostly lower ahead of Thursday's release of the PCE report, the inflation indicator that is favored by the Federal Reserve. Wednesday's markets were quietly lower on profit taking after a strong run to new lifetime highs in many world equity markets. Interest rates continue to trade either side of 4.3% on the 10-year note. The reaction to Thursday's PCE number will likely either allow the market to trade to new highs or prompt a more significant correction. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average down 23.39 at 38,949.02 and the S&P 500 down 8.42 at 5,069.76, The 10-Year Treasury yield ended at 4.27%. Early Thursday, the March Dow Jones Futures are down 127 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.26%, spot futures of Germany's DAX is trading up 0.46% and the spot futures of France's CAC 40 Index up 0.01%. Asian markets are mixed with Japan's Nikkei 225 Index down 0.11% and China's Shanghai Composite Index up 1.94%.