DTN Early Word Grains 02/07 05:55

DTN Early Word Grains 02/07 05:55 Dry Forecast for Argentina; Russia Tensions Send Grain, Soy Higher Early March corn is up 7 3/4 cents, March soybeans are up 22 1/4 cents, and March KC wheat is up 10 3/4 cents. Dana Mantini Senior Market Analyst Pre-6 a.m. Globex Prices: March corn is up 7 3/4 cents, March soybeans are up 22 1/4 cents, and March KC wheat is up 10 3/4 cents. CME Globex Recap: Early on Monday, Dow Jones futures are down with European markets mixed to mostly higher, with Asian markets mixed. The bond market is lower. Russian and Ukraine tensions seemed to ratchet up over the weekend, and a meeting of the U.N. Security Council is set for Monday. Showers over the weekend in southern Brazil and Argentina were spotty and the forecast for the next two weeks has limited moisture. Northern and central Brazil will battle heavy rains of 5 to 10 inches or more over the next 10 days, halting harvest progress. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 21.42 at 33,089.74 and the S&P 500 up 23.09 at 4,500.53 while the 10-Year Treasury yield ended at 1.93%. Early Monday, the March DJIA futures are down 78 points. Asian markets are mixed with Japan's Nikkei down 191.12(-0.70%) and China's Shanghai Composite up 68.14 points (+2.03%). European markets are mixed with London's FTSE 100 up 12.59 points (+0.17%), Germany's DAX up 7.17 points (+0.04%) and France's CAC 40 down 8.90 points (-0.13%). The March Euro is at 1.14, and the March U.S. Dollar Index is up 0.100 at 95.580. The March 30-Year T-Bond is up 3/32nds, while March gold is up 4.20 at $1,810.80 and March crude oil is down 1.00 at $91.31. Soybeans on China's Dalian Exchange are higher and soybean meal is sharply higher.