DTN Early Word Grains 02/03 05:50

DTN Early Word Grains 02/03 05:50 Grain Markets Lower After President Trump Places 25% Tariffs on Canada, Mexico; 10% on China March corn is down 7 cents per bushel, March soybeans are down 7 cents, March KC wheat is down 5 1/2 cents, March Chicago wheat is down 5 1/2 cents and March Minneapolis wheat is down 1 cent. Kent Beadle, DTN Contributing Analyst EARLY MORNING GLOBEX NET CHANGES: March corn is down 7 cents per bushel, March soybeans are down 7 cents, March KC wheat is down 5 1/2 cents, March Chicago wheat is down 5 1/2 cents and March Minneapolis wheat is down 1 cent. CME GLOBEX RECAP: World equity markets are all sharply lower to begin the week. President Trump's new issuance of tariffs on three of the largest trading partners of the U.S. sent shudders through equity markets around world. European traders are concerned as President Trump has said that tariffs will be placed on Europe as well, although that hasn't happened yet. Equity markets on Friday reacted positively to reports that the tariffs would not begin until March 1, but when the White House said those reports were false, markets fell sharply into Friday's close and are continuing to move lower Monday. This will be a busy week for new economic data. On Monday, we get construction spending, auto sales, and the ISM manufacturing index. Tuesday brings the job opening (JOLT) report, and factory orders. On Wednesday we get the ADP employment survey, the U.S. trade deficit, and the ISM services index. Thursday brings weekly jobless claims and U.S. productivity, while Friday brings wholesale inventories, consumer sentiment, and the important U.S. employment report. In agriculture, in addition to the regular weekly reports, we will get the Fats and Oils report, the flour milling report, and the grain crushings report on Monday afternoon. OUTSIDE MARKETS: Previous closes Friday showed the Dow Jones Industrial Average down 337.47 at 44,544.66 and the S&P 500 down 30.64 at 6,040.53. The 10-Year Treasury yield ended at 4.569%. Early Monday, the March Dow Jones Futures are down 627 points. European markets are mixed/higher/lower with the spot futures of London's FTSE 100 trading down 1.39%, spot futures of Germany's DAX is trading down 1.84% and the spot futures of France's CAC 40 Index down 1.86%. Asian markets are mixed/higher/lower with Japan's Nikkei 225 Index down 2.66% and China's Shanghai Composite Index is steady.