DTN Early Word Grains 02/11 05:41

DTN Early Word Grains 02/11 05:41 Wheat, Soy Markets Firm Ahead of February WASDE Report, Corn Little Changed March corn is up 3/4 cent per bushel, March soybeans are up 3 1/4 cents, March KC wheat is up 2 cents, March Chicago wheat is up 3 1/2 cents and March Minneapolis wheat is up 1 3/4 cents. Dana Mantini Senior Market Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is up 3/4 cent per bushel, March soybeans are up 3 1/4 cents, March KC wheat is up 2 cents, March Chicago wheat is up 3 1/2 cents and March Minneapolis wheat is up 1 3/4 cents. CME GLOBEX RECAP: Overnight in slow trade, both the wheat and soy markets are modestly higher with corn futures little changed to begin. At 11 a.m. Central time we will get a look at the February World Agricultural Supply and Demand (WASDE) report. Typically not a big market-mover, the February WASDE is not expected to result in significant changes to the U.S. balance sheet tables, but the focus is likely to be on any South American crop production estimate changes, especially on Argentine corn and soybeans. The former is expected to be cut by 1 to 3 million metric tons (mmt) after the very hot and dry late December-January weather pattern. There is also the possibility that corn for ethanol usage could be ratcheted higher in the U.S. The report is forecast to have minimal changes, with the trade refocusing on South American weather shortly after, along with any tariff announcements. The Trump administration hinted at reciprocal tariffs for a host of countries by mid-week following the Monday announcements of 25% tariffs on both steel and aluminum imports. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average up 167.01 at 44,470.41 and the S&P 500 up 40.45 at 6,066.44. The 10-Year Treasury yield ended at 4.493%. Early Tuesday, the March Dow Jones Futures are down 96 points. European markets are mixed/higher/lower with the spot futures of London's FTSE 100 trading down 0.17%, spot futures of Germany's DAX is trading up 0.04% and the spot futures of France's CAC 40 Index down 0.02%. Asian markets are mixed/higher/lower with Japan's Nikkei 225 Index is steady and China's Shanghai Composite Index down 0.12%.