DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is up 1 3/4 cents per bushel, January soybeans are up 8 1/2 cents, March KC wheat is up 1 1/4 cents, March Chicago wheat is up 5 1/4 cents and March Minneapolis wheat is up 1 cent. The Dow Jones Industrial Average is up 224.97 points and January crude oil is up $0.47 per barrel. The U.S. Dollar Index is up 0.130 and December gold is down $36.10 per ounce. Corn and soybeans remain modestly higher, but well below the daily highs, as funds have been buyers all day. Funds are credited with buying 8,000 corn contracts, 7,000 beans and 4,000 each of meal and bean oil. The U.S. remains the best corn offer in the world, while the drought in South America has some analysts at least contemplating lower soybean production forecasts there.

Posted 10:34 -- December corn is up 2 cents per bushel, January soybeans are up 9 3/4 cents, March KC wheat is up 3 1/2 cents, March Chicago wheat is up 6 3/4 cents and March Minneapolis wheat is up 3 cents. The Dow Jones Industrial Average is up 157.98 points and January crude oil is up $0.49 per barrel. The U.S. Dollar Index is up 0.270 and December gold is down $41.10 per ounce. Heat and dryness in key South American crop areas, the lowest U.S. Dollar Index value in three months and stellar demand continues to extend the bull move in corn and the soy complex. U.S. corn, which has seen flash sales of nearly 25 mb in the past two trading days, is currently a $5 to $10/mt discount to offers from Argentina and Ukraine, and in position to garner much of the world corn demand into spring.

Posted 08:34 -- December corn is up 5 cents per bushel, January soybeans are up 12 3/4 cents, March KC wheat is up 5 1/4 cents, March Chicago wheat is up 8 1/2 cents and March Minneapolis wheat is up 5 1/2 cents. The Dow Jones Industrial Average is up 188.69 points and January crude oil is up $0.40 per barrel. The U.S. Dollar Index is down 0.300 and December gold is down $8.40 per ounce. Another new sale of corn was announced to unknown destinations -- 334,000 mt (13.1 million bushels). The grain and soybean markets continue to reflect concern over the ongoing dry pattern in key South American growing regions.

Posted Nov. 22 at 07:10 a.m. -- After the Sunday evening open, December corn is up 4 cents, January soybeans are up 12 1/4 cents and March KC wheat is up 2 cents. The latest seven-day forecast is mostly dry for central Brazil with above normal temperatures. Moderate rain amounts are expected over southern Brazil and Argentina. Here in the U.S., rain fell from eastern Kansas to Ohio over the weekend. More is expected in the central and Eastern Corn Belt the next few days. Dow Jones futures are trading up 71 points and the December U.S. Dollar Index is down 0.13. December gold is up $0.30 and January crude oil is up 2 cents a barrel.

Livestock

Posted 11:37 -- February live cattle are up $2.90 at $113.55, January feeder cattle are up $3.48 at $138.075, February lean hogs are up $2.25 at $67.6, December corn is up 2 3/4 cents per bushel and December soybean meal is up $2.30. The Dow Jones Industrial Average is up 182.14 points and NASDAQ is down 1.11 points. The livestock complex is seeing an easy $1.00 to $3.00 rally across all three markets. The feeder cattle market is closely watching how much stronger the corn market grows as $0.02 to $0.05 gains are seen. Monday morning saw some light cash cattle trade in Nebraska at steady prices with a week ago.

Posted 10:33 -- February live cattle are up $1.95 at $112.6, January feeder cattle are up $2.98 at $137.575, February lean hogs are up $2.20 at $67.55, December corn is up 2 cents per bushel and December soybean meal is up $1.20. The Dow Jones Industrial Average is up 164.87 points and NASDAQ is down 44.99 points. Livestock contracts are trading positively to news of another COVID-19 vaccine becoming available. There's been some cash cattle trade already Monday morning at $110 in Nebraska, which is fully steady with last week's trade.

Posted 08:35 -- February live cattle are up $0.68 at $111.325, January feeder cattle are up $1.18 at $135.775, February lean hogs are up $1.50 at $66.85, December corn is up 5 1/2 cents per bushel and December soybean meal is up $5.10. The Dow Jones Industrial Average is up 197.84 points and NASDAQ is up 69.84 points. Following last week's bearish close, the livestock contracts are gearing to trade higher into Monday's open. Friday's Cattle on Feed report is helping drive some of the bullish attitudes in the market along with last week's marketing-year high for beef exports. Heading into the shortened week, cash cattle trade is expected to develop earlier in the week.

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