DTN Early Word Grains 03/16 05:53

DTN Early Word Grains 03/16 05:53 Wheat Leads Losses in Mixed Overnight Trade May corn is down 9 1/2 cents per bushel, May soybeans are up 12 1/2 cents, and May KC wheat is down 21 1/2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: May corn is down 9 1/2 cents per bushel, May soybeans are up 12 1/2 cents, and May KC wheat is down 21 1/2 cents. CME Globex Recap: Sharply higher equity markets around the globe overnight as media outlets were reporting Ukrainian president Zelensky said talks with Russia aimed at ending the war were beginning to "sound more realistic" as three European leaders visited Kyiv. Markets are likely to remain skeptical of any peace deal until Russian forces pullback, but any movement in that direction would be a positive. In addition, Wednesday will also see the Federal Reserve make their decision on interest rates. With the ongoing inflation and conflict in Ukraine, the decision and rationale after will be one of the most important in recent memory. Energy markets are sharply higher overnight, recovering some of the early week losses. The U.S. Dollar Index is solidly lower overnight as the consolidation pattern continues. Metals are mixed with copper higher while gold and silver are lower. Grains are mixed to lower overnight with the soy complex higher while corn and wheat trade lower. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 599.10 at 33,544.34 and the S&P 500 up 89.34 at 4,173.11 while the 10-Year Treasury yield ended at 2.16%. Early Wednesday, the March DJIA futures are up 304 points. Asian markets are higher with Japan's Nikkei 225 up 415.53 (1.64%) and China's Shanghai Composite up 106.75 points (3.48%). European markets are higher with London's FTSE 100 up 86.32 points (1.2%), Germany's DAX up 359.9 points (2.59%) and France's CAC 40 up 177.48 points (2.79%). The June Euro is up 0.005 at 1.100 and the June U.S. dollar index is down 0.409 at 98.655. The June 30-Year T-Bond is down 4/32nds, while April gold is down $8.40 at $1,921.30 and April crude oil is up $1.81 at $98.25. Soybeans on China's Dalian Exchange were down 0.32% while soybean meal was down 1.17% and corn was down 0.14%.