DTN Early Word Grains 02/03 05:57

DTN Early Word Grains 02/03 05:57 Correction Continues in Grains Overnight March corn is down 7 3/4 cents per bushel, March soybeans are down 13 1/4 cents, and March KC wheat is down 9 1/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: March corn is down 7 3/4 cents per bushel, March soybeans are down 13 1/4 cents, and March KC wheat is down 9 1/4 cents. CME Globex Recap: Global equity markets are weaker overnight with U.S. futures suggesting follow-through to the downside later Thursday morning. The big story in stocks Wednesday was Facebook's parent company Meta missing earnings estimates and crashing by 20-25% after, wiping out $200-225 billion in market cap in a single session. Energy markets are seeing a solid correction overnight, especially natural gas which is down over 6% following the 15% rally Wednesday. The U.S. Dollar Index is higher overnight, looking to close up for the first time in four sessions. Metals are weaker overnight with both copper and silver down more than 1.0%. Grain markets are lower across the board with sizable losses being posted early Thursday morning in several markets. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 224.09 at 35,629.33 and the S&P 500 up 42.84 at 4,546.54 while the 10-Year Treasury yield ended at 1.766%. Early Thursday, the March DJIA futures are down 145 points. Asian markets are lower with Japan's Nikkei 225 down 292.29 (-1.06%) and China's Shanghai Composite closed. European markets are lower with London's FTSE 100 down 10.35 points (-0.14%), Germany's DAX down 74.43 points (-0.48%) and France's CAC 40 down 25.98 points (-0.37%). The March Euro is down 0.003 at 1.130 and the March U.S. dollar index is up 0.280 at 96.215. The March 30-Year T-Bond is down 8/32nds, while April gold is down $6.50 at $1,803.80 and March crude oil is down $1.30 at $86.96. Malaysian palm oil settled down 1.41% at 5,513 ringgits per ton.