DTN Early Word Grains 02/09 05:56

DTN Early Word Grains 02/09 05:56 Soybeans, Corn Firm Again; New Crop Set New Contract Highs March corn is up 3 cents, March soybeans are up 12 1/4 cents, and March KC wheat is down 3 1/2 cents. Dana Mantini Senior Market Analyst Pre-6 a.m. Globex Prices: March corn is up 3 cents, March soybeans are up 12 1/4 cents, and March KC wheat is down 3 1/2 cents. CME Globex Recap: Early Wednesday, Dow Jones futures are up with European and Asian markets higher. The bond market is lower. Crude oil futures are down nearly 57 cents per barrel, with veg oil markets higher to start. As we await the February WASDE report, the focus is likely to be on South American weather and yield potential with decline expected for both soybean and corn production estimates, while few major changes are expected for the U.S. corn and soy balance sheets. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average up 371.65 at 35,462.78 and the S&P 500 up 37.67 at 4,521.54 while the 10-Year Treasury yield ended at 1.954%. Early Wednesday, the March DJIA futures are up 178 points. Asian markets are higher with Japan's Nikkei up 295.35(+1.08%) and China's Shanghai Composite up 27.32 points (+0.79%). European markets are higher with London's FTSE 100 up 43.96 points (+0.58%), Germany's DAX up 229.08 points (+1.51%) and France's CAC 40 up 106.34 points (+1.51%). The March Euro is at 1.14, and the March U.S. Dollar Index is down 0.206 at 95.435. The March 30-Year T-Bond is down 19/32nds, while April gold is down 0.10 at $1,827.70 and March crude oil is down 0.43 at $88.91. Soybeans on China's Dalian Exchange are higher and soybean meal is also higher.