DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- March corn is down 8 1/4 cents per bushel, January soybeans are down 21 1/4 cents, March KC wheat is down 16 1/4 cents, March Chicago wheat is down 18 1/4 cents and March Minneapolis wheat is down 14 cents. The Dow Jones Industrial Average is down 336.09 points and January crude oil is down $0.70 per barrel. The U.S. Dollar Index is up 0.040 and December gold is down $5.20 per ounce. Grains and the soy complex have extended their losses at midday. Funds are exiting long positions in size on Monday, credited with selling 8,000 corn; 9,000 beans; 5,000 wheat; and 8,000 bean oil as of noon. While key Brazilian areas look mostly dry for the next several days, early next week forecasts are hinting at a better chance for rain in Mato Grosso. However, southern Argentina looks dry for the next few weeks.
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Posted 10:33 -- March corn is down 3 1/2 cents per bushel, January soybeans are down 16 1/2 cents, March KC wheat is down 14 3/4 cents, March Chicago wheat is down 16 1/4 cents and March Minneapolis wheat is down 12 3/4 cents. The Dow Jones Industrial Average is down 387.36 points and January crude oil is down $0.79 per barrel. The U.S. Dollar Index is up 0.100 and December gold is down $4.60 per ounce. The grain and soy complex, following a stronger overnight trade, have sold off in unison, with soybeans, bean oil and wheat leading the way lower. Some better rains are expected to fall in key Brazilian soybean and corn areas, but the overall fundamental tightening of the soy and corn balance sheets continues, as export demand remains very strong.
Posted 08:39 -- March corn is down 2 cents per bushel, January soybeans are down 11 1/4 cents, March KC wheat is down 9 1/2 cents, March Chicago wheat is down 7 1/2 cents and March Minneapolis wheat is down 6 cents. The Dow Jones Industrial Average is down 182.05 points and January crude oil is down $0.22 per barrel. The U.S. Dollar Index is down 0.260 and December gold is down $9.50 per ounce. Two new flash sales of corn were announced sold to unknown destinations of 140,000 mt and 204,000 mt, for a total of 344,000 mt (13.5 million bushels). Grain and soy markets remain under heavy pressure, led by January soybeans, which failed to breach $12 for five straight days.
Posted Sunday, Nov. 29 at 7:05 p.m. -- March corn is up 3/4 cent per bushel, January soybeans are up 5 3/4 cents, March KC wheat is down 1/4 cent, March Chicago wheat is unchanged and March Minneapolis wheat is down 2 cents. The Dow Jones Industrial Average is down 122 points and January crude oil is down $0.48 per barrel. The U.S. Dollar Index is down 0.070 and December gold is down $3.20 per ounce. While weekend rains in Brazil were better than expected in Parana and Rio Grande do Sul, it was dry in northern and central Brazil and southern Argentina. The next 8 to 10 days feature more of the same -- dryness and heat in central and northern Brazil and southern Argentina. The markets are very firm again with January beans looking to close over $12 -- an area it has tested four times.
LivestockPosted 11:27 -- February live cattle are down $0.15 at $113.1, January feeder cattle are up $0.20 at $140.025, February lean hogs are up $1.25 at $68.5, March corn is down 4 1/4 cents per bushel and January soybean meal is down $3.50. The Dow Jones Industrial Average is down 356.70 points and NASDAQ is down 70.25 points. As Monday nears the noon hour, the lean hog market sees support rise from both the futures market and from midday cutout values while the cattle market trades mixed. Live cattle contracts are still trading fully lower but there's mild support beginning to develop in the feeder cattle complex.
Posted 10:33 -- February live cattle are down $0.45 at $112.8, January feeder cattle are down $0.45 at $139.375, February lean hogs are up $1.23 at $68.475, March corn is down 3 3/4 cents per bushel and January soybean meal is down $3.00. The Dow Jones Industrial Average is down 396.27 points and NASDAQ is down 99.66 points. As Monday presses through the day, cattle contracts are still lagging behind, while the lean hog market sees substantial support developing. Following last week's advancements throughout the cattle sector, cattlemen and feedlots alike are anxious to move the market higher again this week, but doing so will be difficult if the board doesn't cooperate.
Posted 08:38 -- February live cattle are down $0.50 at $112.75, January feeder cattle are down $0.33 at $139.5, February lean hogs are up $0.48 at $67.725, March corn is down 2 cents per bushel and January soybean meal is down $2.20. The Dow Jones Industrial Average is down 186.54 points and NASDAQ is up 30.26 points. Livestock enthusiasts are hoping that this week will be fruitful again. Starting out the day, cattle contracts are trading doggishly, but the lean hog market is summoning modest support. This week's cash cattle market looks to build the market stronger again while supportive boxed beef prices are secured.
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