DTN Early Word Grains 03/15 05:53

DTN Early Word Grains 03/15 05:53 Wheat Rallies While Row Crops Setback Overnight May corn is down 9 1/4 cents per bushel, May soybeans are down 22 3/4 cents, and May KC wheat is up 25 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: May corn is down 9 1/4 cents per bushel, May soybeans are down 22 3/4 cents, and May KC wheat is up 25 cents. CME Globex Recap: Equity markets are lower overnight with heavy selling seen in Chinese stocks as markets react to the lockdown measures being reinstated there. After two years of relative control, China is seeing the worst coronavirus cases of the entire pandemic. This is understandably rattling energy markets on the threat of reduced demand with spot WTI futures down almost 6.0% overnight and solidly under $100.00 per barrel. Crude and products have now retraced almost the entire Russian-invasion-spike. The U.S. Dollar Index is lower overnight and setting back from the near two-year highs set March 7. Metals are weaker overnight with gold and silver down 1.4-1.7%. Grain futures are mixed with wheat up 15-30 cents while row crops and products trade weaker. The threat of reduced exports from Russia will remain a threat throughout 2022, even if production is materially curtailed as in Ukraine. OUTSIDE MARKETS: Previous closes Monday showed the Dow Jones Industrial Average up 1.05 at 32,945.24 and the S&P 500 down 31.20 at 4,204.31 while the 10-Year Treasury yield ended at 2.14%. Early Tuesday, the March DJIA futures are down 88 points. Asian markets are mixed with Japan's Nikkei 225 up 38.63 (0.15%) and China's Shanghai Composite down 159.57 points (-4.95%). European markets are lower with London's FTSE 100 down 97.77 points (-1.36%), Germany's DAX down 275.31 points (-2.08%) and France's CAC 40 down 129.98 points (-2.07%). The June Euro is up 0.004 at 1.100 and the June U.S. dollar index is down 0.274 at 98.750. The June 30-Year T-Bond is up 18/32nds, while April gold is down $29.70 at $1,931.10 and April crude oil is down $6.20 at $96.81. Soybeans on China's Dalian Exchange were down 0.43% while soybean meal was up 0.29% and corn was up 0.39%.