DTN Early Word Grains 02/04 05:56

DTN Early Word Grains 02/04 05:56 Pan-Commodity Buying Continues Overnight March corn is up 4 cents per bushel, March soybeans are up 9 1/4 cents, and March KC wheat is up 7 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: March corn is up 4 cents per bushel, March soybeans are up 9 1/4 cents, and March KC wheat is up 7 cents. CME Globex Recap: Mixed equity trade overnight with U.S. futures also lightly mixed ahead of the Friday morning open. Tech sector earnings remain a front page issue driving volatility. After Meta's big miss, Amazon reported a planned increase in its flagship Prime membership which investors reacted to very favorably. Energy prices are surging overnight with spot WTI crude oil prices continuing to make fresh seven-year highs at almost $92.00 per barrel. We have to believe the price will draw criticism from the White House considering releases from the SPR were done well below current levels. The U.S. Dollar Index is weaker for the fifth session in a row, sitting right on the 100-day moving average. Metals are mixed to higher overnight. Grains are stronger overnight with gains led by Kansas City wheat and soybean oil. The entire commodity sector has a compelling story right now with technicals firmly on the side of bulls. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 518.17 at 35,111.16 and the S&P 500 down 111.94 at 4,589.38 while the 10-Year Treasury yield ended at 1.827%. Early Friday, the March DJIA futures are down 70 points. Asian markets are higher with Japan's Nikkei 225 up 198.68 (0.73%) and China's Shanghai Composite down 32.81 points (-0.97%). European markets are mixed with London's FTSE 100 up 19.08 points (0.25%), Germany's DAX down 175.41 points (-1.14%) and France's CAC 40 down 31.83 points (-0.45%). The March Euro is up 0.003 at 1.150 and the March U.S. dollar index is down 0.069 at 95.310. The March 30-Year T-Bond is up 12/32nds, while April gold is up $9.60 at $1,813.70 and March crude oil is up $1.31 at $91.58. Soybeans on China's Dalian Exchange were up 3.96% while soybean meal was up 3.71%.