DTN Early Word Grains 02/06 05:55

DTN Early Word Grains 02/06 05:55 Range Bound Trade Persists as Market Waits for Data March corn is down 1/4 cents per bushel, March soybeans are up 1/4 cents, and March K.C. wheat is up 1/4 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn is down 1/4 cents per bushel, March soybeans are up 1/4 cents, and March K.C. wheat is up 1/4 cents. CME Globex Recap: Equity markets are mixed to weaker Wednesday morning as investors digest the State of the Union from President Trump in which few details about the trade war were given and a national emergency for a southern border wall was not announced. Crude oil has hit near-term resistance, trading lower for the third session in a row. Grain markets are very quiet, trading in especially narrow ranges overnight. Little excitement is expected until export sales data is released Thursday or USDA reports Friday. Traders will be watching USDA at 8:00am CST for more export sales announcements related to the recent Chinese purchases. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 172.15 at 25,411.52 and the S&P 500 up 12.83 at 2,724.87 while the 10-Year Treasury yield ended at 2.702%. Early Wednesday, the March DJIA futures are down 42 points. Asian markets are higher with Japan's Nikkei 225 up 358.42 (0.98%) and China's Shanghai Composite is closed. European markets are lower with London's FTSE 100 down 7.53 points (-0.1%), Germany's DAX down 35.34 points (-0.31%) and France's CAC 40 down 6.51 points (-0.13%). The March Euro is down 0.002 at 1.140 and the March U.S. dollar index is up 0.068 at 95.885. The March 30-Year T-Bond is up 10/32nds, while April gold is down $1.70 at $1,317.50 and March crude oil is down $0.50 at $53.16. The Dalian Commodity Exchange in China is closed.