DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is down 5 1/2 cents per bushel, March soybeans are up 15 cents, March KC wheat is down 2 1/2 cents, March Chicago wheat is up 1 3/4 cents and March Minneapolis wheat is down 1/2 cent. The Dow Jones Industrial Average is down 57.93 points and March crude oil is up $0.36 per barrel. The U.S. Dollar Index is up 0.430 and April gold is down $12.30 per ounce. Soybeans and soymeal just refuse to quit, with meal still trading just below the new contract high, set earlier on Thursday. It is baffling to say the least about the soymeal strength, as export sales last week were down 46% from the previous week, and both Brazilian and Argentine meal offers are far below those of the U.S. Corn again rejected the resistance area and is trading down a dime from the high.

Posted 10: 35 -- March corn is down 6 cents per bushel, March soybeans are up 5 1/2 cents, March KC wheat is down 10 1/2 cents, March Chicago wheat is down 6 1/2 cents and March Minneapolis wheat is down 4 1/4 cents. The Dow Jones Industrial Average is down 109.62 points and March crude oil is down $0.72 per barrel. The U.S. Dollar Index is up 0.360 and April gold is down $9.00 per ounce. Corn and soybean oil are being pressured by the renewed weakness in crude oil futures, wheat is lower, and now soybeans and meal are beginning to leak lower as well. Outside financial markets have turned lower again.

Posted 08:37 -- March corn is up 3 1/2 cents per bushel, March soybeans are up 13 cents, March KC wheat is up 5 1/2 cents, March Chicago wheat is up 5 1/2 cents and March Minneapolis wheat is up 2 1/2 cents. The Dow Jones Industrial Average is down 68.22 points and March crude oil is down $0.05 per barrel. The U.S. Dollar Index is up 0.230 and April gold is up $14.60 per ounce. Soybeans and soymeal are again leading the ag markets higher, and KC and Minneapolis wheat are headed for an eight consecutive higher finish as funds attempt to reel in some of their large short position. After Monday's early meltdown, outside markets have settled down as well.

Livestock

Posted 11:37 -- April live cattle are up $1.45 at $163.675, March feeder cattle are up $3.00 at $186.25, April lean hogs are up $1.55 at $85.85, March corn is down 4 3/4 cents per bushel and March soybean meal is up $5.70. The Dow Jones Industrial Average is down 151.95 points. All is quiet in cash cattle country at this time with buyers and sellers still digging in their heels -- just who will blink first is the question. Bids remain few and far between. Asking prices are $158 to $160 in the South and $252-plus in the North.

Posted 08:36 -- April live cattle are up $0.60 at $162.825, March feeder cattle are up $1.30 at $184.55, April lean hogs are up $0.68 at $84.975, March corn is up 4 3/4 cents per bushel and March soybean meal is up $7.10. The Dow Jones Industrial Average is down 13.37 points. All remains rather quiet in cattle feeding country, bids remain elusive, Southern asking prices are around $158 to $160, but have yet to be established in the North. Many packers are very short bought, so business is likely to develop later Thursday and/or Friday.

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