DTN's Quick Takes

Grains

OMAHA (DTN) -- As we near the close, March corn is unchanged, March soybeans are down 5 cents and March K.C. wheat is down 1 1/2 cents. Corn and wheat are on track for positive gains on the week, while March soybeans are down roughly a nickel. Brazil's impending harvest continues to be a source of bearish concern for soybean prices, while dry weather in Argentina is offering some bullish influence. K.C. wheat is on track for the biggest gain this week, thanks to ongoing dry weather concerns in the western Plains.

Posted 11:48 -- March corn is unchanged, March soybeans are down 4 1/2 cents and March K.C. wheat is up 1/4 cent. Trading volume is lower on Friday with not much price movement happening either. Corn is holding roughly steady for a fourth consecutive day, while soybeans remain under pressure and March meal is down $1.60. The March U.S. dollar index is up 0.38, boosted by today's report of higher-than-expected nonfarm payrolls while most outside commodities are lower. April gold is down $9.70.

Posted 09:52 -- March corn is down 1 cent, March soybeans are down 3 3/4 cents and March K.C. wheat is down 2 1/2 cents. Grains remain lower on the day, but soybeans are up from earlier lows. March soybean meal is down $1.50 and bean oil is down $0.17. The March U.S. dollar index is up 0.73 after the U.S. Labor Department said nonfarm payrolls increased by 200,000 in January, more than was expected. Wages were up 0.3% in January, the fastest wage growth since 2009, reported RTTNews.com.

Posted 08:33 -- After the 8:30 open, March corn is down 1 cent, March soybeans are down 6 3/4 cents, and March K.C. wheat is down 4 cents. Corn is steady to lower after USDA said 7.7 million bushels (195,000 mt) of U.S. corn were sold to unknown destinations and another 6.7 million bushels (170,000 mt) were sold to Egypt, both for 2017-18. 4.0 million bushels (108,860 mt) of U.S. soybeans were also sold to Mexico for 2017-18, but soybean prices are starting lower, pressured by the anticipation of Brazil's next big crop.

Livestock

Posted 12:34 -- February cattle are up $0.67 and April cattle are up $0.50, holding firm to finish the week with cash sales holding last week's gains. USDA said choice boxed beef was down $0.12 early Friday, at $209.48, while selects were down $0.50 at $204.04. Both were still up well on the week. March feeder cattle are up $1.80. February hogs are up $0.25 and April hogs are down $0.52, mixed after USDA showed pork carcass up $0.30 at $82.12 with 112.72 loads. Butts had the biggest gain, up $2.26.

Posted 09:29 -- February cattle are down $0.30 and April cattle are down $0.07, easing back after Thursday's limit-up close in the April contract. March feeder cattle are up $0.80. February hogs are down $0.15 and April hogs are down $0.85, still showing strong commercial demand for the front month while the April contract probes for support at the lower end of its three-month range. Dow Jones projected Friday's cattle slaughter at 114,000, up from 112,281 a year ago. Hog slaughter is expected at 458,000, up from 434,404 a year ago.

(BE)

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