DTN Early Word Grains 02/24 05:57

DTN Early Word Grains 02/24 05:57 Grain Rally Continues Led by Soy Complex March corn is up 2 1/4 cents per bushel, May soybeans are up 12 1/4 cents, and May KC wheat is up 1 1/2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: March corn is up 2 1/4 cents per bushel, May soybeans are up 12 1/4 cents, and May KC wheat is up 1 1/2 cents. CME Globex Recap: Steady to firmer equity markets around the globe overnight as U.S. markets stabilize from the volatility witnessed the previous session. Investors have taken solace from comments by Fed Chair Powell about keeping monetary conditions loose, but tech stocks have been hit by a solid bout of weakness in recent sessions. The rotation out of technology stocks and into assets which benefit from an inflationary environment has noteworthy. Energy markets are higher overnight with spot crude oil back above the $62.00 level. Natural gas continues its retreat from last week's shortage-induced spike with spot prices trading around $2.82 vs. $3.30 last Thursday. The U.S. Dollar Index is beginning to trade sideways above the 90-handle level with the 50-day moving average just overhead. Copper prices continue to see new multi-year highs on a daily basis and are adding to gains overnight. Grains are firmer across the board overnight with the soybeans and meal once again leading gains. Most signs point toward a retest of contract highs for soybean prices. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average up 15.66 at 31,537.35 and the S&P 500 up 4.87 at 3,876.50 while the 10-Year Treasury yield ended at 1.362%. Early Wednesday, the March DJIA futures are up 14 points. Asian markets are lower with Japan's Nikkei 225 down 484.33 (-1.61%) and China's Shanghai Composite down 72.28 points (-1.99%). European markets are higher with London's FTSE 100 down 6.04 points (-0.09%), Germany's DAX up 102.68 points (0.74%) and France's CAC 40 up 5.89 points (0.1%). The March Euro is up 0.002 at 1.220 and the March U.S. dollar index is down 0.027 at 90.140. The March 30-Year T-Bond is down 13/32nds, while April gold is up $1.80 at $1,807.70 and April crude oil is up $0.43 at $62.10. Soybeans on China's Dalian Exchange were up 0.66% while soybean meal was up 2.59% and corn was up 0.28%.