DTN Early Word Grains 03/21 05:48

DTN Early Word Grains 03/21 05:48 Grain Markets Higher Thursday Morning on Technical Strength May corn is up 4 cents per bushel, May soybeans are up 7 1/2 cents, May KC wheat is up 5 3/4 cents, May Chicago wheat is up 6 1/4 cents and May Minneapolis wheat is up 7 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is up 4 cents per bushel, May soybeans are up 7 1/2 cents, May KC wheat is up 5 3/4 cents, May Chicago wheat is up 6 1/4 cents and May Minneapolis wheat is up 7 cents. CME GLOBEX RECAP: World equity markets are mostly higher Thursday morning in the aftermath of the Fed decision to leave interest rates unchanged but with a signal of three rate cuts ahead in 2024. Chairman Powell reiterated his recent more dovish language suggesting that the economy is slowing and that rate cuts will likely be appropriate given the trajectory of the economy. This is what equity traders wanted to hear, and the three major stock indexes all closed at new lifetime highs. That is the first time all three indexes have made new highs since 2021. Thursday morning, we will get the weekly jobless claims number, as well as existing home sales, leading economic indicators, and S&P flash PMI's for both services and manufacturing. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 401.37 at 39,512.13 and the S&P 500 up 46.11 at 5,224.62, The 10-Year Treasury yield ended at 4.27%. Early Thursday, the June Dow Jones Futures are up 95 points. European markets are mixed with the spot futures of London's FTSE 100 trading up 0.93%, spot futures of Germany's DAX is trading up 0.34% and the spot futures of France's CAC 40 Index down 0.05%. Asian markets are mixed with Japan's Nikkei 225 Index up 2.03% and China's Shanghai Composite Index down 0.08%.