DTN Early Word Grains 03/14 05:58

DTN Early Word Grains 03/14 05:58 Grains Setback Following Higher Start Sunday May corn is down 9 cents per bushel, May soybeans are up 3 1/2 cents, and May KC wheat is down 15 1/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: May corn is down 9 cents per bushel, May soybeans are up 3 1/2 cents, and May KC wheat is down 15 1/4 cents. CME Globex Recap: Mostly firmer equity trade overnight with U.S. futures posting gains of 0.6-0.8% early Monday morning. The latest developments from Ukraine include Russia asking China for assistance with their invasion of Ukraine as well as Russia striking Ukrainian bases near the Poland border. Neither development is encouraging, although details of Russia's ask aren't clear. The West had hoped China would aid in their isolation of Russia, although that hasn't been reciprocated directly so far. Any attack inside a NATO country like Poland would be expected to bring a full-scale response from the U.S. and NATO. Energy markets are weaker overnight as crude oil continues to correct from the highs set last Monday. The U.S. Dollar Index is weaker overnight, just off near two-year highs set last week. Metals are weaker overnight with copper and silver down 1.5-1.6%. Grains are lower across the board with losses led by winter wheat contracts after all ag contracts began Sunday evening higher. Wide swings are expected until the next leg of the trend emerges. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 229.88 at 32,944.19 and the S&P 500 down 55.21 at 4,259.52 while the 10-Year Treasury yield ended at 2.004%. Early Monday, the March DJIA futures are up 250 points. Asian markets are mixed with Japan's Nikkei 225 up 145.07 (0.58%) and China's Shanghai Composite down 86.21 points (-2.6%). European markets are higher with London's FTSE 100 up 18.33 points (0.26%), Germany's DAX up 342.59 points (2.51%) and France's CAC 40 up 58.96 points (0.94%). The March Euro is up 0.005 at 1.100 and the March U.S. dollar index is down 0.235 at 98.895. The June 30-Year T-Bond is down 44/32nds, while April gold is down $15.60 at $1,969.40 and April crude oil is down $4.32 at $105.01. Soybeans on China's Dalian Exchange were down 1.43% while soybean meal was down 0.5%.