DTN Early Word Grains 03/18 05:53

DTN Early Word Grains 03/18 05:53 Mixed Grain Trade Ahead of Weekend May corn is down 4 1/2 cents per bushel, May soybeans are up 9 cents, and May KC wheat is down 16 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: May corn is down 4 1/2 cents per bushel, May soybeans are up 9 cents, and May KC wheat is down 16 cents. CME Globex Recap: Mixed trade in equity markets overnight with U.S. futures pointing to a lower open later Friday morning. That said, major stock indices in the U.S. are on track to close with weekly gains for the first time in seven weeks. It doesn't appear we are any closer to peace or a cease-fire in Ukraine than at the beginning of the week despite mixed reports at mid-week. The Federal Reserve raised benchmark interest rates but 25 basis points is hardly enough to send bulls running for cover. Mortgage rates in the United States did climb above 4.0% for the first time since 2019 this week. Energy markets are mixed overnight with crude and heating oil higher while gasoline and natural gas are lower. The U.S. Dollar Index is firmer overnight but mainly inside its declining trend channel. Metals are mixed with copper flat while gold and silver are lower. Grains are mixed with corn and wheat lower while the complex is mostly higher. Overnight direction has had little to do with afternoon settlement this week which is likely to prove true again today. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average up 417.66 at 34,480.76 and the S&P 500 up 53.81 at 4,357.86 while the 10-Year Treasury yield ended at 2.192%. Early Friday, the June DJIA futures are down 218 points. Asian markets are higher with Japan's Nikkei 225 up 174.54 (0.65%) and China's Shanghai Composite up 36.03 points (1.12%). European markets are lower with London's FTSE 100 down 20.99 points (-0.28%), Germany's DAX down 93.46 points (-0.65%) and France's CAC 40 down 48.29 points (-0.73%). The June Euro is down 0.004 at 1.110 and the June U.S. dollar index is up 0.220 at 98.195. The June 30-Year T-Bond is up 23/32nds, while April gold is down $9.30 at $1,933.90 and April crude oil is up $0.82 at $103.80. Soybeans on China's Dalian Exchange were up 1.29% while soybean meal was up 0.84% and corn was up 0.77%.