DTN Early Word Grains 02/05 05:56

DTN Early Word Grains 02/05 05:56 Outside Markets Bend Grains Lower March corn was down 2 3/4 cents, March soybeans were down 6 3/4 cents, and March Kansas City (HRW) wheat was down 4 1/4 cents. By Todd Hultman DTN Analyst 6:00 a.m. CME Globex: March corn was down 2 3/4 cents, March soybeans were down 6 3/4 cents, and March Kansas City (HRW) wheat was down 4 1/4 cents. CME Globex Recap: On Friday, Punxsutawney Phil declared six more weeks of winter, but early Monday, traders are more concerned about rising interest rates and falling stock prices after Friday's jobs report pointed to more rate hikes ahead. Grains and oilseeds are mostly lower along with outside commodity markets as investors turn defensive in the face of stock market losses. OUTSIDE MARKETS: On Friday, the Dow Jones Industrial Average closed down 665.75 points (-2.5%) at 25,520.96, the NASDAQ Composite lost 144.91 points (-1.9%) to 7,240.95, and the S&P 500 dropped 59.85 points to 2,762.13. Early Monday, DJIA futures were down 160 points. Asian markets were mostly lower with Japan's Nikkei 225 down 592.45 points (-2.55%), Hong Kong's Hang Seng falling 356.56 points (-1.1%), and China's Shanghai Composite adding 25.42 points (0.7%). European markets were trading lower with London's FTSE 100 down 86.03 points (-1.2), Germany's DAX falling 80.51 points (-0.6%), and France's CAC 40 off 51.94 points (-1.0%). The euro was 0.0018 higher at 1.24820 as the U.S. dollar index was down 0.0420 to 89.1520. March 30-year T-Bonds were 5/32 lower at 144'20 while April gold added $1.70 to $1,339.00. Crude oil was $0.26 lower at $65.19 and Brent crude lost $0.58 to $68.00. China's Dalian soybean were a little higher and Malaysian palm oil futures were up 1.05% overnight.