DTN Early Word Grains 01/12 07:20

DTN Early Word Grains 01/12 07:20 Corn, Soybean Prices Higher as Argentine Crop Conditions Worsen March corn is up 3 cents, March soybeans are up 11 cents and March KC wheat is up 4 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is up 3 cents, March soybeans are up 11 cents and March KC wheat is up 4 cents. CME GLOBEX RECAP: Early Thursday, stock futures in the U.S. were quietly higher, influenced by higher trade in Europe. Traders are cautious ahead of the Labor Department's consumer price index report for December, due out at 7:30 a.m. CST. At the same time, there will also be USDA's weekly export sales report, weekly U.S. jobless claims and an update of the U.S. Drought Monitor. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 286.91 at 33,973.01 and the S&P 500 up 50.36 at 3,969.61, while the 10-Year Treasury yield fell to 3.55%, still below its 100-day average. Early Thursday, March Dow Jones futures are trading up 12 points. Asian markets are slightly higher with Japan's Nikkei 225 index up 0.01% and China's Shanghai Composite Index up 0.05%. European markets are higher with the spot futures of the London FTSE 100 trading up 0.66%, spot futures of Germany's DAX trading up 0.83% and spot futures of France's CAC Index trading up 0.71%. The March euro is up $0.0001 at $1.0788. The March U.S. Dollar Index is up 0.07 at 103.05. The March 30-year T-bond is up 24/32nds, while February gold is up $12.80 at $1,889.30 and February crude oil is up $0.29 at $75.41. On China's Dalian exchange, March corn was down 0.1%, March soybeans were down 0.0%, May soybean meal was up 0.3% and May soybean oil was down 0.3%. March Malaysian palm oil is trading down 1.9%.