DTN Early Word Grains 03/05 05:47

DTN Early Word Grains 03/05 05:47 Row Crops Edge Higher as Traders Optimistic of Trade War Resolution May corn is up 5 1/2 cents and May soybeans are up 8 cents. May KC wheat is up 7 1/4 cents, May Chicago wheat is down 8 1/4 cents, and May Minneapolis wheat is up 4 1/2 cents. Rhett Montgomery DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is up 5 1/2 cents and May soybeans are up 8 cents. May KC wheat is up 7 1/4 cents, May Chicago wheat is down 8 1/4 cents, and May Minneapolis wheat is up 4 1/2 cents. CME GLOBEX RECAP: U.S. row crop markets are cautiously higher thus far Wednesday morning as traders are expressing optimism that the trade war, sparked Tuesday with the Trump Administration's implementation of 25% tariffs on Canada and Mexico, with an additional 10% on Chinese imports, may be a short-lived dispute at least in regard to Mexico and Canada. Tuesday afternoon reports that Mexican President Claudia Sheinbaum and President Trump would meet Thursday to discuss and the fact that Mexico is yet to announce tariff measures of their own had the corn market 9 cents off its lows Tuesday. U.S. Commerce Secretary Howard Lutnick seemed to confirm this reason for optimism Tuesday afternoon when he suggested a deal with both Mexico and Canada could be announced as early as Wednesday. This would certainly we a welcomed event by investors across all markets, but especially grain markets where corn markets are attempting to snap a streak of eight sessions lower, accounting for 61 1/4 cents lost, soybean markets work to break a five day loss streak of 49 3/4 cents on May futures, and May Kansas City wheat contracts currently hold a seven day loss streak which has removed 73 1/4 cents from the market (counting from the most recent positive close not including the full range of losses for wheat prices over the past ten sessions). OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 670.25 points to 42,520.99 and the S&P 500 Index down 71.57 at 5,778.15. The 10-Year Treasury yield ended at 4.21%. Early Wednesday, March Dow Jones futures are up 238 points. European markets are mixed to mostly higher with the spot futures of the London FTSE 100 trading up 0.57%, spot futures of Germany's DAX trading up 3.23% and spot futures of France's CAC Index trading down 1.88%. Asian markets are higher with Japan's Nikkei 225 index up 0.23% and China's Shanghai Composite Index up 0.53%.