DTN Early Word Grains 01/03 05:57

DTN Early Word Grains 01/03 05:57 Grains Surge to Start 2022 March corn is up 8 1/2 cents per bushel, March soybeans are up 21 3/4 cents, and March KC wheat is up 12 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: March corn is up 8 1/2 cents per bushel, March soybeans are up 21 3/4 cents, and March KC wheat is up 12 cents. CME Globex Recap: Equity trade around the globe was higher overnight, although several Asian markets have not re-opened yet this year. Energy markets are solidly higher overnight with spot crude oil up 1.4% while products are up 1.5-1.6%. Headlines from financial media continue to pose worry over the omicron case surge, although comments from health officials are trying to downplay this round vs. previous surges from the delta and alpha variants. The U.S. Dollar Index is slightly higher overnight, bouncing away from the one-month low set last week. Metals are mixed with copper slightly higher while precious metals are slightly lower. Grain markets are sharply higher to begin the New Year, a good omen for money flow in 2022. Forecasts for South America will be front and center this week in the lead up to the January WASDE on the 12th. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 90.55 at 36,398.08 and the S&P 500 down 14.33 at 4,793.06 while the 10-Year Treasury yield ended at 1.515%. Early Monday, the March DJIA futures are up 179 points. Asian markets are still closed. European markets are higher with London's FTSE 100 down 18.47 points (-0.25%), Germany's DAX up 136.75 points (0.86%) and France's CAC 40 up 76.44 points (1.07%). The March Euro is down 0.003 at 1.140 and the March U.S. dollar index is up 0.197 at 95.790. The March 30-Year T-Bond is down 20/32nds, while February gold is down $2.10 at $1,826.50 and February crude oil is up $1.04 at $76.25. The Dalian Commodity Exchange was closed.