DTN Early Word Grains 03/20 05:48

DTN Early Word Grains 03/20 05:48 Grain Markets Mixed Wednesday Morning with Corn and Wheat Lower, Soybeans Higher. May corn is down 1 1/4 cents per bushel, May soybeans are up 6 cents, May KC wheat is down 6 1/4 cents, May Chicago wheat is down 5 1/4 cents and May Minneapolis wheat is down 4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is down 1 1/4 cents per bushel, May soybeans are up 6 cents, May KC wheat is down 6 1/4 cents, May Chicago wheat is down 5 1/4 cents and May Minneapolis wheat is down 4 cents. CME GLOBEX RECAP: World equity markets are mixed Wednesday morning ahead of Wednesday's decision by the U.S. Federal Reserve. Expectations are universally for the Fed to leave interest rates unchanged at this meeting. There will be a new "dot-plot" issued which will signal the trajectory of interest rates cuts that members believe will occur. Traders expect three cuts this year, and a deviation from that pace would be market moving. The other factor that will be watched will be the tone of the post meeting press conference, with Chairman Powell having been a little more dovish in public comments as of late. Any change to that tone will also be closely followed. Tuesday's economic data showed both Housing starts and Building Permits slightly higher than trade estimates. The economic data over the past month has been very mixed, with the inflation data stronger than anticipated but many other data points showing economic weakness, hence the expectation for unchanged monetary policy at Wednesday's meeting. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 320.33 at 39,110.76 and the S&P 500 up 29.09 at 5,178.51, The 10-Year Treasury yield ended at 4.30%. Early Wednesday, the June Dow Jones Futures are down 30 points. European markets are mixed with the spot futures of London's FTSE 100 trading down 0.18%, spot futures of Germany's DAX is trading up 0.07% and the spot futures of France's CAC 40 Index down 0.63%. Asian markets are higher with Japan's Nikkei 225 Index up 0.66% and China's Shanghai Composite Index up 0.55%.