DTN Early Word Grains 02/08 05:41

DTN Early Word Grains 02/08 05:41 Grain Markets Mixed Ahead of USDA Reports; March Corn Makes New Contract Low March corn is down 1 3/4 cents per bushel, March soybeans are up 1 3/4 cents, March KC wheat is down 7 3/4 cents, March Chicago wheat is down 8 3/4 cents and March Minneapolis wheat is down 4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is down 1 3/4 cents per bushel, March soybeans are up 1 3/4 cents, March KC wheat is down 7 3/4 cents, March Chicago wheat is down 8 3/4 cents and March Minneapolis wheat is down 4 cents. CME GLOBEX RECAP: World equity markets are mixed after another strong day in U.S. Stocks on Wednesday with the S&P 500 approaching the 5,000-point level for the first time. Interest rates are stable at just over 4% on the 10-year note while several Federal Reserve voting members are signaling a willingness to lower rates when the data suggests the 2% inflation mandate has been achieved. That may not be in March but there could still be 2-3 cuts this year which the equity market is embracing. Wednesday's Consumer Credit increase of only 1.5 billion dollars vs. trade expectations of 15 billion dollars indicates that the consumer is becoming more concerned about their own financial situation, and they are spending less. This could be a data point that helps the Fed in their decision to lower rates. Thursday we will see the weekly jobless claims as well as December wholesale inventories. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 156.00 at 38,677.36 and the S&P 500 up 40.83 at 4,995.06, The 10-Year Treasury yield ended at 4.11%. Early Thursday, the March Dow Jones Futures are down 45 points. European markets are mixed with the spot futures of London's FTSE 100 trading down 0.11%, spot futures of Germany's DAX is trading up 0.11% and the spot futures of France's CAC 40 Index up 0.45%. Asian markets are higher with Japan's Nikkei 225 Index up 2.06% and China's Shanghai Composite Index up 1.28%.