DTN Early Word Grains 01/03 07:31

DTN Early Word Grains 01/03 07:31 U.S. Grain Markets to Open Tuesday at 8:30 a.m. CST March corn was down 1 cent, March soybeans were up 7 3/4 cents and March KC wheat was up 21 1/2 cents. Todd Hultman DTN Lead Analyst FRIDAY GLOBEX NET CHANGES: March corn was down 1 cent, March soybeans were up 7 3/4 cents and March KC wheat was up 21 1/2 cents. CME GLOBEX RECAP: Early Tuesday, stock futures in the U.S. were off to a higher start on the first trading session of 2023, encouraged by higher trading in Europe also. Manufacturing indices showed contraction for several countries in Europe and Asia, including a 49.0 reading for China in December. It is somewhat unusual that both T-bond prices and the U.S. Dollar Index are both sharply higher. USDA's weekly report of export inspections will be out at 10 a.m. CST. China's corn and soybean prices were both higher early Tuesday, suggesting a chance for a modestly higher open in the U.S. at 8:30 a.m. CDT. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 73.55 at 33,147.25 and the S&P 500 down 9.78 at 3,839.50, while the 10-Year Treasury yield ended at 3.88%, near the highest yield in over a month. Early Tuesday, March Dow Jones futures are trading down up 293 points. Asian markets are mostly higher with Japan's Nikkei 225 index up slightly and China's Shanghai Composite Index up 0.88%. European markets are higher with the spot futures of the London FTSE 100 trading up 1.63%, spot futures of Germany's DAX trading up 1.19% and spot futures of France's CAC Index trading up 1.17%. The March euro is down $0.0163 at $1.0591. The March U.S. Dollar Index is up 1.22 at 104.49. The March 30-year T-bond is up 1 13/32nds, while February gold is up $15.50 at $1,841.70 and February crude oil is down $0.82 at $79.44. On China's Dalian exchange, March corn was up 0.3%, March soybeans were up 0.7%, May soybean meal was up 1.1% and May soybean oil was down 0.0%. March Malaysian palm oil is trading up 1.9%.