DTN Early Word Grains 03/06 05:45

DTN Early Word Grains 03/06 05:45 Grain and Soy Recovery Extends for Another Day as Markets Become Oversold May corn is up 2 3/4 cents per bushel, May soybeans are up 9 cents, May KC wheat is up 3 3/4 cents, May Chicago wheat is up 3 1/2 cents and May Minneapolis wheat is up 4 cents. Dana Mantini Senior Market Analyst EARLY MORNING GLOBEX NET CHANGES: May corn is up 2 3/4 cents per bushel, May soybeans are up 9 cents, May KC wheat is up 3 3/4 cents, May Chicago wheat is up 3 1/2 cents and May Minneapolis wheat is up 4 cents. CME GLOBEX RECAP: Led by soybeans, grain and soy markets climb moderately higher for the second consecutive day on hopes that there could be a compromise on tariffs for Canada and Mexico. Also supporting markets is the sharp fall in the U.S. Dollar Index and the general oversold condition of each of the markets. Weather continues to be bearish in Argentina with heavy rain in Argentina expected to continue to improve conditions, but a drier pattern is emerging in eastern and southern Brazil capable of hurting soy yields in over 40% of the crop in those regions. After liquidating longs in the past week, funds are still holding a sizeable net long corn position. President Trump meets with Mexico's president on Thursday to discuss the tariff situation. Financial markets continue in bearish mode with the Dow Jones futures down over 400 points overnight, as concerns of a slowing world economy and U.S. Recession pressure markets. OUTSIDE MARKETS: Previous closes Wednesday showed the Dow Jones Industrial Average up 485.60 at 43,006.59 and the S&P 500 up 64.48 at 5,842.63. The 10-Year Treasury yield ended at 4.265%. Early Thursday, the March Dow Jones Futures are down 424 points. European markets are mixed with the spot futures of London's FTSE 100 trading down 0.94%, spot futures of Germany's DAX is trading up 0.13% and the spot futures of France's CAC 40 Index down 0.64%. Asian markets are higher with Japan's Nikkei 225 Index up 0.77% and China's Shanghai Composite Index up 1.17%.