DTN's Quick Takes

Grains

OMAHA (DTN) -- As we near the close, May corn is down 2 1/2 cents, May soybeans are down 7 1/4 cents, and July K.C. wheat is down 9 1/4 cents. Grains look content to settle lower Friday with not much trading volume taking place. Snow is flying through South Dakota and western Nebraska, slowly moving eastward with plenty of precipitation and cold wind coming this weekend. The June U.S. dollar index is quiet, trading up 0.02 while most other commodities are higher.

Posted 11:45 -- May corn is down 3 1/4 cents, May soybeans are down 7 cents, and July K.C. wheat is down 14 3/4 cents. Corn and wheat are lower while soybeans did not move much over the past two hours. In spite of the severity of drought in the southwestern Plains, the demand side of the market has been bearish for winter wheat in 2017-18, and traders are also seeing a chance for rain in Kansas at the back end of the 10-day forecast. Outside of ag markets, other commodities are higher Friday with the June U.S. dollar roughly unchanged and Dow Jones futures modestly lower.

Posted 09:44 -- May corn is down 1 1/2 cents, May soybeans are down 7 1/4 cents, and July K.C. wheat is down 7 cents. May soybean oil is up $0.10 and currently the only grain-related contract trading higher after soybeans and meal saw early commercial buying turn to commercial selling in the past hour, possibly helped by profit-taking ahead of a turbulent weather weekend. Outside of grains and cattle, most other commodities are higher Friday and Dow Jones futures are modestly lower.

Posted 08:37 -- After the 8:30 open, May corn is down 1 1/4 cents, May soybeans are down 1/4 cent, and July K.C. wheat is down 9 cents. Prominent in trading on Friday the 13th will be snow, rain, and more cold temperatures headed to the Corn Belt this weekend, adding to planting delays early in 2018. Also, high winds in the western U.S. Plains will bring blizzard conditions as far south as northwestern Kansas and add to wildfire danger in the southwestern Plains. Winter wheat is starting lower with the world's other wheat regions reporting no significant problems.

Livestock

Posted 11:29 -- April cattle are up $0.35 and June cattle are down $0.10 on light volume. USDA's morning report showed choice boxed beef up $0.36 at $212.84 and selects down $0.49. May feeder cattle are down $0.12, still not showing much concern yet of the blizzard on the way to the western Plains. April hogs are down $0.52 and June hogs are down $0.15, also showing light volume on Friday. USDA reported pork carcass up $0.79 at $66.85 with hams up $1.94.

Posted 09:47 -- April cattle are up $0.12 and June cattle are down $0.30, a mixed open as we wait to see if there are any more cash sales this week. May feeder cattle are down $0.42, not showing much concern yet of the South Dakota to Kansas blizzard that is about to unfold. April hogs are down $0.20 and June hogs are up $0.55, also mixed after a week of higher prices. Dow Jones projected Friday's cattle slaughter at 114,000, up from 109,102 a year ago. Hog slaughter is estimated at 454,000, up from 373,056 a year ago.

(BE)

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