DTN Early Word Grains 02/09 05:57

DTN Early Word Grains 02/09 05:57 Grains Rally in Front of WASDE March corn is up 6 1/4 cents per bushel, March soybeans are up 16 1/2 cents, and March KC wheat is up 1 3/4 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: March corn is up 6 1/4 cents per bushel, March soybeans are up 16 1/2 cents, and March KC wheat is up 1 3/4 cents. CME Globex Recap: Mixed trade in global equities overnight with U.S. futures pointing toward a slightly lower open Tuesday. Former President Trump's impeachment trial will begin in the U.S. Senate today, which will could lead to delays in passing additional pandemic relief this week. Financial media sources are abuzz with inflation talk this week after five and ten-year inflation breakeven expectations rose to 6-1/2 year highs on Monday. This should be supportive to the commodity sector as a whole as investors look to physical assets to store value. Energy markets are mostly higher overnight with crude oil holding the 58.00 per barrel level. The U.S. Dollar Index is weaker, looking to close weaker for the third session in a row and resting just above its 50-day moving average. Precious metals are higher overnight. Grain markets are higher across the board with corn pushing to new contract highs and the soy complex moving closer to recent highs with overnight gains. Traders are waiting for the February WASDE later Tuesday morning which should be supportive to recent gains. OUTSIDE MARKETS: Previous closes on Monday showed the Dow Jones Industrial Average up 237.52 at 31,385.76 and the S&P 500 up 28.76 at 3,886.83 while the 10-Year Treasury yield ended at 1.16%. Early Tuesday, the March DJIA futures are down 30 points. Asian markets are higher with Japan's Nikkei 225 up 117.43 (0.4%) and China's Shanghai Composite up 71.04 points (2.01%). European markets are lower with London's FTSE 100 down 5.98 points (-0.09%), Germany's DAX down 68.53 points (-0.49%) and France's CAC 40 down 1.14 points (-0.02%). The March Euro is up 0.005 at 1.210 and the March U.S. dollar index is down 0.354 at 90.565. The March 30-Year T-Bond is up 9/32nds, while April gold is up $12.40 at $1,846.60 and March crude oil is up $0.16 at $58.13. Soybeans on China's Dalian Exchange were up 1.57% while soybean meal was up 0.3% and corn was down 0.71%.