DTN Early Word Grains 03/11 06:00

DTN Early Word Grains 03/11 06:00 Wheat Markets Rebound, Corn Firm and Soy Complex Weakens May corn is up 4 1/4 cents, May soybeans are down 10 1/4 cents, and July KC May wheat is up 11 1/2 cents. Dana Mantini Senior Market Analyst Pre-6 a.m. Globex Prices: May corn is up 4 1/4 cents, May soybeans are down 10 1/4 cents, and July KC May wheat is up 11 1/2 cents. CME Globex Recap: Early Friday, Dow Jones futures are higher with European markets all higher and Asian markets mixed. The bond market is lower. News from Ukraine is that Russian forces appear to be converging on the major city of Kyiv, surrounding that city. Peace talks in Turkey on Wednesday failed to gain any traction. Weather in South America features short-term rain before turning dry again for three weeks. Rains were said to be above expectations in the past 24 hours in Parana, southern Mato Gross do Sul and Mato Grosso. According to Market Watch, China has locked down a city of 9 million people due to a spike in Covid cases. Crude oil is higher, but roughly $20 per barrel below the weekly high. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average down 112.18 at 33,174.07 and the S&P 500 down 18.36 at 4,259.52 while the 10-Year Treasury yield ended higher at 2.011%. Early Friday, the June DJIA futures are up 400 points. Asian markets are mixed with Japan's Nikkei down 527.62 (-2.05%) and China's Shanghai Composite up 13.65 points (+0.41%). European markets are up, with London's FTSE 100 up 71.79 points (+1.01%), Germany's DAX up 181.83 points (+1.36%) and France's CAC 40 up 40.82 points (+0.66%). The March Euro is at 1.10, and the March U.S. Dollar Index is up 0.116 at 98.62. The June 30-Year T-Bond is up 22/32nds, while June gold is down 2.50 at $1977.90 and April crude oil is up 1.90 at $107.92. Soybeans on China's Dalian Exchange are lower and soybean meal is lower as well.