DTN Early Word Grains 02/15 05:57

DTN Early Word Grains 02/15 05:57 Wheat Leads Heavy Selling Overnight March corn is down 9 cents per bushel, March soybeans are down 14 cents, and March KC wheat is down 20 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: March corn is down 9 cents per bushel, March soybeans are down 14 cents, and March KC wheat is down 20 cents. CME Globex Recap: Equities around the globe are higher overnight, seemingly reacting to the slight de-escalation in the Russia-Ukraine saga. The Wall Street Journal reported Russia was pulling back some troops from the Ukrainian border while large-scale exercises continued. Western officials, however, warned other units were moving forward. It is difficult to know what to believe in this environment. The energy sector is reacting sharply overnight with broad based selling as crude oil falls 3.6% to $92.00 per barrel. Natural gas remains higher, however, up 3.1%. The U.S. Dollar Index is weaker overnight and the Russian Ruble is up 1.9%. Metals are mixed to weaker with copper higher while gold and silver are lower. Grain markets are weaker across the board with selling led by winter wheat contracts. There isn't much else to point to besides Russia and Ukraine, but be mindful of the next headline. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average down 171.89 at 34,566.17 and the S&P 500 down 16.97 at 4,418.64 while the 10-Year Treasury yield ended at 1.996%. Early Tuesday, the March DJIA futures are up 369 points. Asian markets are mixed with Japan's Nikkei 225 down 214.4 (-0.79%) and China's Shanghai Composite up 17.21 points (0.5%). European markets are higher with London's FTSE 100 up 56.57 points (0.75%), Germany's DAX up 262.25 points (1.74%) and France's CAC 40 up 122.51 points (1.79%). The March Euro is up 0.005 at 1.140 and the March U.S. dollar index is down 0.306 at 96.050. The March 30-Year T-Bond is down 29/32nds, while April gold is down $15.60 at $1,853.80 and March crude oil is down $3.19 at $92.27. Soybeans on China's Dalian Exchange were down 1.85% while soybean meal was down 2.16% and corn was down 0.11%.