DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 1 cent, January soybeans are down 4 1/2 cents, Chicago March wheat is down 6 cents and on the low, Kansas City March wheat is down 2 1/4 cents, and Minneapolis March is down 1 1/2 cents per bushel. Outside markets continue to be a drag on grains, with global and U.S. equities selling off, spurred on by some poor sales growth news from China, with the Dow Industrial Average now down 421 points, S&P Index off 40 points, while January crude oil is down $1.12 per barrel. The U.S. dollar index, having reached a yearly high, remains up 0.3880, and February gold is down $5.60.

Posted 10:37 -- Corn is getting a nice little boost Friday morning, as March corn is up 2 cents, January soybeans are down 2 1/2 cents, Chicago March wheat is down 4 cents, Kansas City March wheat is unchanged and Minneapolis March wheat is off 2 1/4 cents. Outside markets are weakening, with the Dow Jones average now down 345 points, January crude oil down $1.30, while the U.S. dollar index is up .4280, after having eclipsed the recent high in November and February gold is down $4.30. The initial euphoria of the second China soybean purchase of 300,000 mt announced this morning, was short-lived, as the trade wants more.

Posted 08:43 -- The markets re-open Friday on a positive note as the USDA reported a new 300,000 mt (11 million bushels) soybean sale to China and another 130,000 mt (4.8 million bushels). March corn is up 3 cents, January soybeans are up 1/4 cent, Chicago March wheat is up 1 1/4 cents, Kansas City March is up 3 1/4 cents and Minneapolis March wheat is down 1/4 cent per bushel. The Dow Jones average is down 257 points, January crude oil is off 29 cents, the U.S. dollar index is up .5810, and February gold is down $9.70.

Livestock

Posted 12:17 -- Lean hog futures have quickly pulled back from morning highs with traders focusing on late-week positioning as well as building pressure that has developed in the cattle market. Cattle futures have been unable to hold light to moderate gains seen early in the session with markets currently mixed to mostly lower with the focus on underlying buyer support moving back into the corn complex.

Posted 10:25 -- Firm gains have continued in lean hog trade with traders focusing on regaining losses seen on Thursday. February futures remain $1.33 per cwt higher. Although gains have pulled back from initial session highs, the focus on end of the week short covering and additional market stability going into the last half of December is sparking additional interest through the entire hog complex. Trade remains sluggish in cattle markets with prices steady to 30 cents higher in nearby contracts across both live cattle and feeder cattle trade. Limited direction is expected before the end of the session with traders looking for more direction from cash markets.

Posted 09:31 -- Strong early gains have continued through the entire lean hog complex with February futures leading the complex higher with a $1.50 per cwt gain. The focus on stability in grain trade is helping to bring buyers back to the market with an attempt to spark some underlying support through the rest of the livestock market. Gains are limited in cattle futures with December futures 10 cents higher while February contracts are etching out a 5-cent gain.

(BAS)

Copyright 2018 DTN/The Progressive Farmer. All rights reserved.