DTN's Quick Takes

Todd Hultman
DTN Analyst
and
Rick Kment
DTN Analyst

Grains

Posted 11:42 -- March corn is up 1/4 cent, March soybeans are up 5 3/4 cents and March Chicago wheat is down 2 3/4 cents. Corn and wheat have low trading volume Friday, and prices haven't moved much since the first half hour of trading. Soybeans are hanging on to a modest gain while Argentina's forecast is dry again, but also haven't moved much recently. February gold is up $7.40 and March crude oil is down 63 cents a barrel as most outside commodities are mixed.

Posted 09:42 -- March corn is up 1 3/4 cents, March soybeans are up 7 3/4 cents and March Chicago wheat is down 1 1/4 cents. Trading has turned quiet since 9 a.m. CST, and soybeans are finding support once again from commercial buying in March soybean meal, trading up $4.60. The March U.S. dollar index is steady with the possibility of a government shutdown looming. Outside commodities are mixed.

Posted 08:41 -- March corn is up 1 1/2 cents, March soybeans are up 6 3/4 cents, and March Chicago wheat is down 1 1/2 cents. USDA reported last week's export sales for corn, soybeans, and soybean meal all up significant from last week's totals, but only soybean meal has total shipments in 2017-18 higher than a year ago. March soybean meal is up $4.20, aiming for a fifth consecutive higher close on Friday.

Livestock

OMAHA (DTN) -- Triple-digit losses have quickly developed in feeder cattle trade. The overall lack of support in the entire market has created uncertainty as to how much buyer activity, or longer-term interest, will develop next week following the pullback from recent gains at the end of the week. Live cattle futures are holding moderate losses with prices 80-to-95 cents per cwt lower. The weaker tone in cattle trade has filtered through the hog complex with prices holding mixed trade through most of the morning, but at midday prices are steady to 92 cents lower. Trade volume in all markets is expected to remain subdued through most of the afternoon.

Posted 10:28 -- Early support in cattle trade has eroded through the morning. This has allowed for initial buyer support that was seen Friday to now hold losses of 40-to-50 cents per cwt in all contracts. The lean hog futures continue to erode following the narrow losses seen in initial trade. Although there is not expected to be aggressive volume through the market, the tone of the market is softening as traders try to prepare for the upcoming weekend.

(BE)

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