DTN Early Word Grains 01/31 05:51

DTN Early Word Grains 01/31 05:51 Grain Markets Lower Ahead of February 1 Tariff Threats From New Administration March corn is down 8 1/2 cents per bushel, March soybeans are down 5 1/2 cents, March KC wheat is down 9 1/4 cents, March Chicago wheat is down 9 1/2 cents and March Minneapolis wheat is down 4 3/4 cents. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is down 8 1/2 cents per bushel, March soybeans are down 5 1/2 cents, March KC wheat is down 9 1/4 cents, March Chicago wheat is down 9 1/2 cents and March Minneapolis wheat is down 4 3/4 cents. CME GLOBEX RECAP: World equity markets are mostly higher again on Friday, after a modestly higher session on Thursday in the aftermath of a good U.S. 1st quarter GDP report. The headline GDP number at 2.3% growth in the 4th quarter was below trade expectations, but it also provided evidence that the U.S. economy is not overheating and that could lead to a future rate cut. Pending home sales were down 5.5%, and that number also was supportive for a future rate cut. This helped the stock market rebound from more hawkish comments from Fed Chairman Powell on Wednesday. Friday morning will bring this month's new PCE data, which is the most influential inflation data that the Fed will see. Since the next Fed meeting isn't until March, they will get two months of PCE data before they make their next decision. OUTSIDE MARKETS: Previous closes Thursday showed the Dow Jones Industrial Average up 168.61 at 44,882.13 and the S&P 500 up 31.86 at 6,071.17. The 10-Year Treasury yield ended at 4.512%. Early Friday, the March Dow Jones Futures are up 158 points. European markets are higher with the spot futures of London's FTSE 100 trading up 0.16%, spot futures of Germany's DAX is trading up 0.13% and the spot futures of France's CAC 40 Index up 0.28%. Asian markets are lower with Japan's Nikkei 225 Index down 0.15% and China's Shanghai Composite Index closed for holiday.