DTN Early Word Grains 01/21 05:55

DTN Early Word Grains 01/21 05:55 Grains Rebound After Three-Day Skid March corn is up 6 1/2 cents per bushel, March soybeans are up 9 cents, and March KC wheat is up 3 1/2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: March corn is up 6 1/2 cents per bushel, March soybeans are up 9 cents, and March KC wheat is up 3 1/2 cents. CME Globex Recap: Global equities are mostly higher with U.S. futures pointing toward small gains at the cash open later Thursday morning. Much of the focus is still on Washington D.C. as President Biden gets to work after being sworn in Wednesday. The President's first full day in office was a busy one as he signed executive orders ranging from rejoining the Paris Climate Accord to canceling the permit for the Keystone XL pipeline. Energy markets are weaker overnight with crude oil back below 53.00 per barrel while natural gas is down nearly 2.5%. The U.S. Dollar Index is weaker, looking to close lower for the fourth session in a row and moving back toward the 90-handle level. Precious metals are firmer with both inside recent ranges. Grain markets are firmer across the board with gains being led by corn as March futures rally over 1.2%. The last three days features some tree-shaking but it appears that found buyers overnight. Fundamentals remain solid and the U.S. producer is counting on strong prices through February to ensure solid insurance protection for the 21/22 marketing year. OUTSIDE MARKETS: Previous closes on Wednesday showed the Dow Jones Industrial Average up 257.86 at 31,188.38 and the S&P 500 up 52.94 at 3,798.91 while the 10-Year Treasury yield ended at 1.09%. Early Thursday, the March DJIA futures are up 52 points. Asian markets are higher with Japan's Nikkei 225 up 233.6 (0.82%) and China's Shanghai Composite up 38.17 points (1.07%). European markets are higher with London's FTSE 100 up 0.09 points (0.01%), Germany's DAX up 62.57 points (0.45%) and France's CAC 40 down 6.81 points (-0.12%). The March Euro is up 0.003 at 1.220 and the March U.S. dollar index is down 0.244 at 90.225. The March 30-Year T-Bond is down 0/32nds, while February gold is up $5.30 at $1,871.80 and March crude oil is down $0.39 at $52.92. Soybeans on China's Dalian Exchange were down 0.57% while soybean meal was down 1.25% and corn was up 0.35%.