DTN Early Word Grains 12/22 05:54

DTN Early Word Grains 12/22 05:54 Santa Rally in Grains Continues Overnight March corn is up 3 3/4 cents per bushel, January soybeans are up 10 1/2 cents, and March KC wheat is up 3 3/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: March corn is up 3 3/4 cents per bushel, January soybeans are up 10 1/2 cents, and March KC wheat is up 3 3/4 cents. CME Globex Recap: Equities are quietly mixed around the globe overnight with U.S. futures slightly lower. U.S. stocks finished higher Tuesday on hopes of a revival in fortunes for the 'Build Back Better' Plan after President Biden and Senator Manchin spoke again on the phone. Omicron fears are still on the front-burner, however, with fears of additional restrictions looming. Energy markets are mixed to firmer overnight with U.S. crude oil futures back above 71.00 per barrel. The U.S. Dollar Index is quietly lower overnight. Metals are posting gains with copper leading, up 0.53%. Grain markets are higher across the board overnight with gains led by soybean oil and soybeans, although the story might be with March corn pushing through the 6.00 mark. This should ignite technical buying as a major resistance hurdle is cleared, but low-volume trade like this week presents can keep things volatile. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 560.54 at 35,492.70 and the S&P 500 up 81.21 at 4,568.02 while the 10-Year Treasury yield ended at 1.487%. Early Wednesday, the March DJIA futures are down 22 points. Asian markets are mixed with Japan's Nikkei 225 up 44.62 (0.16%) and China's Shanghai Composite down 2.51 points (-0.07%). European markets are mixed with London's FTSE 100 down 9.69 points (-0.13%), Germany's DAX up 4.27 points (0.03%) and France's CAC 40 up 1.8 points (0.03%). The March Euro is up 0.001 at 1.130 and the March U.S. dollar index is down 0.039 at 96.450. The March 30-Year T-Bond is up 8/32nds, while February gold is up $1.50 at $1,790.20 and February crude oil is up $0.36 at $71.48. Soybeans on China's Dalian Exchange were up 1.34% while soybean meal was up 0.36%.