DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- March corn is up 3 3/4 cents per bushel, January soybeans are up 3/4 cent, March KC wheat is up 4 1/4 cents, March Chicago wheat is up 3 3/4 cents and March Minneapolis wheat is steady. The Dow Jones Industrial Average is down 208.33 points and January crude oil is down $0.17 per barrel. The U.S. Dollar Index is up 0.190 and February gold is up $25.70 per ounce. The overriding bullish demand outlook and the extended forecast suggesting a return of dryness for Brazil and Argentina have led to a rally from sharply lower values early Monday morning. Rumors continue about China reappearing to buy both U.S. and Brazilian beans, with no confirmation yet. The extended forecast not only suggests central Brazil will again turn dry, but that southern Brazil and Argentina will also. Funds are net buyers of over 10,000 contracts of corn so far.
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Posted 10:33 -- March corn is up 2 1/2 cents per bushel, January soybeans are up 3 3/4 cents, March KC wheat is down 1 1/4 cents, March Chicago wheat is down 1/4 cent and March Minneapolis wheat is down 1 3/4 cents. The Dow Jones Industrial Average is down 143.21 points and January crude oil is down $0.13 per barrel. The U.S. Dollar Index is up 0.050 and February gold is up $30.00 per ounce. Corn, soybeans and wheat have all impressively recovered from overnight and early morning weakness, with January soybeans now 17 cents above the low. Although rains this week are surely helping the South American soy situation, the longer-term impact of La Nina on yields is expected to be bullish, as is the future rise in U.S. soybean and corn exports. Many analysts look for Thursday's WASDE report to result in a rise in U.S. soybean exports.
Posted 08:34 -- March corn is down 3 3/4 cents per bushel, January soybeans are down 10 1/4 cents, March KC wheat is down 8 cents, March Chicago wheat is down 7 1/4 cents and March Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average is down 73.85 points and January crude oil is down $0.44 per barrel. The U.S. Dollar Index is up 0.080 and February gold is up $3.10 per ounce. Wheat, corn and beans are being pressured early by this week's more favorable weather in central and northern Brazil. Wheat is falling on technical considerations as Paris milling wheat futures gapped lower, falling for eight of the past nine days.
Posted Dec. 6 at 7:07 p.m. -- After the Sunday evening open, March corn is down 2 1/2 cents, January soybeans are down 5 1/4 cents and March KC wheat is down 4 cents. Central Brazil benefited from scattered showers during the weekend and have more chances for rain this week. Northern Argentina was mostly dry during the weekend with rain expected to return later this week. Dow Jones futures are trading up 26 points and the December U.S. Dollar Index is up 0.07. February gold is up $1.40 and January crude oil is down 15 cents a barrel.
LivestockPosted 11:34 -- February live cattle are down $0.48 at $111.925, January feeder cattle are down $0.83 at $138.95, February lean hogs are down $1.18 at $65.4, March corn is up 3 3/4 cents per bushel and January soybean meal is up $0.80. The Dow Jones Industrial Average is down 142.74 points and NASDAQ is up 53.82 points. The livestock contracts aren't warming up to Monday's arrival even as the noon hour nears. A lack of trader interest and downward pressure is sending the livestock complex lower in Monday's afternoon trade.
Posted 10:33 -- February live cattle are down $0.40 at $112., January feeder cattle are down $0.50 at $139.275, February lean hogs are down $0.45 at $66.125, March corn is up 2 cents per bushel and January soybean meal is down $1.10. The Dow Jones Industrial Average is down 150.25 points and NASDAQ is up 60.70 points. Monday isn't granting the livestock contracts any favors as the contracts trade mostly lower into the midmorning hours. Deferred lean hog contracts are seeing some slight support surface but it mostly likely won't gain substantially before the day's end or creep into nearby contracts with downward pressure burdensome.
Posted 08:33 -- February live cattle are down $0.75 at $111.65, January feeder cattle are down $1.03 at $138.75, February lean hogs are down $0.58 at $66., March corn is down 4 cents per bushel and January soybean meal is down $3.70. The Dow Jones Industrial Average is down 75.89 points and NASDAQ is up 5.31 points. Following last week's lower trade throughout the futures market, livestock enthusiasts are hopeful for a better week, but are aware of the market's pressuring factors. With boxed beef prices reaching a seasonal high and the futures market lagging for support, a lower trend may be what the week sees again.
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