DTN Early Word Grains 01/23 05:37

DTN Early Word Grains 01/23 05:37 Argentine Rain Influences Grain Trade Lower Early Monday March corn is down 5 cents, March soybeans are down 15 cents and March KC wheat is down 9 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is down 5 cents, March soybeans are down 15 cents and March KC wheat is down 9 cents. CME GLOBEX RECAP: Early Monday, stock futures in the U.S. were trading roughly steady with encouragement from slightly higher stocks in Europe. The Conference Board's index of U.S. leading indicators is due out at 9 a.m. CST Monday, followed by USDA's weekly report of grain export inspections at 10 a.m. Monday's earnings reports includes Baker Hughes and a long list of lesser-known companies. China is on holiday this week for its New Year celebration. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average up 330.93 at 33,375.49 and the S&P 500 up 73.76 at 3,972.61, while the 10-Year Treasury yield ended at 3.48%, up from the lowest yields in four months. Early Monday, March Dow Jones futures are up 1 point. Asian markets are higher with Japan's Nikkei 225 index up 1.33% and China on national holiday. European markets are slightly higher with the spot futures of the London FTSE 100 trading up 0.05%, spot futures of Germany's DAX trading up 0.05% and spot futures of France's CAC Index trading up 0.12%. The March euro is up $0.0052 at $1.0943. The March U.S. Dollar Index is down 0.32 at 101.47. The March 30-year T-bond is down 4/32nds, while February gold is up $2.10 at $1,930.30 and March crude oil is up $0.28 at $81.92. On China's Dalian exchange, March corn was down 0.8%, March soybeans were down 0.6%, May soybean meal was down 1.0% and May soybean oil was up 0.5%. March Malaysian palm oil is not trading Monday.