DTN Early Word Grains 03/08 06:32

DTN Early Word Grains 03/08 06:32 Wheat Finally Turns Lower; Soy Complex Firm Early Tuesday July corn is down 5 1/2 cents, May soybeans are up 25 3/4 cents, and July KC wheat is down 18 1/4 cents. Dana Mantini Senior Market Analyst Pre-6 a.m. Globex Prices: July corn is down 5 1/2 cents, May soybeans are up 25 3/4 cents, and July KC wheat is down 18 1/4 cents. CME Globex Recap: Early Tuesday Dow Jones futures are up slightly, with European markets mixed to higher and Asian markets lower. The bond market is higher. Russia continues to move toward key cities in Ukraine and don't seem to be honoring the evacuation routes for civilians that they had proposed. World equity markets continue to slide lower, while crude oil is again higher, as the world still contemplates a ban on Russian oil imports. Germany had decided not to participate in such a ban. South American weather is favorable, with good rains expected to fall, but the more pressing market factor is the Russia-Ukraine conflict, and the resulting halt of sales and shipments from the Black Sea, and the potential for a delay in new crop seeding, and winter wheat harvest. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average down 797.42 at 32,817.38 and the S&P 500 down 127.78 at 4,201.09 while the 10-Year Treasury yield ended higher at 1.751%. Early Tuesday, the June DJIA futures are up 110 points. Asian markets are lower with Japan's Nikkei down 430.46(-1.71%) and China's Shanghai Composite down 187.58 points (-5.39%). European markets are mixed, with London's FTSE 100 down 20.16 points (-0.33%), Germany's DAX up 87.45 points (+0.68%) and France's CAC 40 down 311.46 points (-4.88%). The March Euro is at 1.09, and the March U.S. Dollar Index is down 0.150 at 99.145. The June 30-Year T-Bond is down 60/32nds, while June gold is up 16.40 at $2.015.60 and April crude oil is up 3.67 at $123.07. Soybeans on China's Dalian Exchange are higher and soybean meal is higher as well.