DTN Early Word Grains 02/04 06:20

DTN Early Word Grains 02/04 06:20 Grains Weaker with China Closed, WASDE Looming March corn is down 1/4 cent per bushel, March soybeans are down 3/4 cents, and March K.C. wheat is down 1 cent. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is down 1/4 cent per bushel, March soybeans are down 3/4 cents, and March K.C. wheat is down 1 cent. CME Globex Recap: Quiet financial markets around the globe this morning as the trade front could be stale with China closed all week due to the Lunar New Year celebrations. There does seem to be growing optimism surrounding a trade deal after another Trump-Xi Summit was announced for the end of February. However, until the current Chinese tariffs on U.S. goods are removed, it feels as though the can could be kicked further down the road. Energy markets are stronger with crude oil trading to the highest levels since late November but global shipping indices continue to carve out multi-year lows. Grains are quiet overnight and likely to remain that way until we get our first WASDE report on Friday since the beginning of December. OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average up 64.22 at 25,063.89 and the S&P 500 up 2.43 at 2,704.10 while the 10-Year Treasury yield ended at 2.691%. Early Monday, the March DJIA futures are up 2 points. Asian markets are higher with Japan's Nikkei 225 higher 95.38 (0.46%) and China's Shanghai Composite is closed. European markets are lower with London's FTSE 100 up 19.61 points (0.28%), Germany's DAX down 29.79 points (-0.27%) and France's CAC 40 down 26.91 points (-0.54%). The March Euro is down 0.001 at 1.150 and the March U.S. dollar index is up 0.165 at 95.465. The March 30-Year T-Bond is down 2/32nds, while April gold is down $7.00 at $1,315.10 and March crude oil is down $0.00 at $55.26. China's Dalian Exchange is closed all week due to Lunar New Year celebrations.