DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- March corn is up 3 1/4 cents per bushel, March soybeans are up 5 1/4 cents, March KC wheat is down 1 1/4 cents, March Chicago wheat is down 6 cents and March Minneapolis wheat is down 2 1/4 cents. The Dow Jones Industrial Average is up 8.29 points and March crude oil is down $0.25 per barrel. The U.S. Dollar Index is down 0.290 and February gold is down $1.50 per ounce. Corn and beans are barely hanging onto gains Thursday, attempting to stave off a fourth consecutive lower close. Soybeans are getting help from the surging bean oil market. The minor gains in corn and soybeans follow morning sales announcements from USDA.

Posted 10:34 -- March corn is up 4 1/4 cents per bushel, March soybeans are up 7 cents, March KC wheat is steady, March Chicago wheat is down 5 1/4 cents and March Minneapolis wheat is down 1 1/2 cents. The Dow Jones Industrial Average is up 7.77 points and March crude oil is down $0.11 per barrel. The U.S. Dollar Index is down 0.290 and February gold is down $2.40 per ounce. Corn, soybeans and bean oil have captured a very small portion of the recent losses, but remain higher for the day, while wheat markets have moved into the red. Some analysts suggest that recent moderate to heavy rains in both Brazil and Argentina may have reduced problem areas to 10% to 15% of those crop areas. Argentina has turned dry again until next week. Demand for corn and beans continues to be stout.

Posted 08:35 -- March corn is up 7 1/4 cents per bushel, March soybeans are up 15 cents, March KC wheat is up 5 1/4 cents, March Chicago wheat is up 1 3/4 cents and March Minneapolis wheat is up 2 1/4 cents. The Dow Jones Industrial Average is up 26.75 points and March crude oil is down $0.12 per barrel. The U.S. Dollar Index is down 0.270 and February gold is up $0.10 per ounce. The USDA's Foreign Agricultural Service (FAS) reported new export sales early Thursday: 136,000 mt (5 mb) of soybeans sold to China for 2020-21, 163,290 mt (6 mb) of soybeans sold to Mexico for 2020-21, 138,000 mt (5 mb) of HRW wheat sold to Nigeria for 2021-22, and 336,500 mt (13.2 mb)of corn sold to unknown for 2020-21. The HRW wheat is for next year's crop.

Livestock

Posted 11:39 -- April live cattle are up $1.13 at $120., March feeder cattle are up $1.65 at $139.175, February lean hogs are steady, March corn is up 1 3/4 cents per bushel and March soybean meal is down $3.60. The Dow Jones Industrial Average is down 39.11 points and NASDAQ is up 28.39 points. Support is pouring into the livestock contracts, allowing the marketplace to trade higher heading into Thursday's afternoon. Unfortunately, with there already being a good test on this week's cash cattle market, it's going to be hard for feedlots to push the cash cattle market higher.

Posted 10:35 -- April live cattle are up $0.75 at $119.625, March feeder cattle are up $1.13 at $138.65, February lean hogs are down $0.05 at $68.375, March corn is up 4 1/4 cents per bushel and March soybean meal is down $0.30. The Dow Jones Industrial Average is up 1.05 points and NASDAQ is up 75.80 points. Low and behold, as Thursday presses on, the livestock contracts are finding ample support even with a modest rally in the corn market. There are a few scattered bids on the table as packers have offered $172 in Nebraska.

Posted 08:35 -- April live cattle are up $0.08 at $118.95, March feeder cattle are down $0.50 at $137.025, February lean hogs are steady, March corn is up 7 cents per bushel and March soybean meal is up $3.20. The Dow Jones Industrial Average is up 33.15 points and NASDAQ is up 57.25 points. The livestock contracts have had a mixed week, seeing support at times throughout the week and none at others. The feeder cattle contracts will intensely watch the corn market to see if another day of position-taking is available. The cash cattle market saw trade in the Northern and Southern Plains Wednesday afternoon and will most likely continue to trade at those levels throughout the remainder of the week.