DTN's Quick Takes

By DTN Analysts

Grains

Posted 12:50 -- March corn is up 11 1/2 cents per bushel, March soybeans are up 35 3/4 cents, March KC wheat is up 16 1/4 cents, March Chicago wheat is up 16 cents and March Minneapolis wheat is up 13 1/2 cents. The Dow Jones Industrial Average is down 61.83 points and March crude oil is up $0.34 per barrel. The U.S. Dollar Index is up 0.130 and February gold is down $1.20 per ounce. Grain and soybean markets have maintained sharp gains, as funds began to buy back in some of their length. Funds are estimated to have bought over 8,000 corn contracts; 7,000 beans; 5,000 wheat; and 5,000 each of soy products as of noon. A drier pattern in eastern and central Brazil and southern Argentina is supportive, while rains are picking up in southern Brazil and northern Argentina.

Posted 10:34 -- March corn is up 9 1/4 cents per bushel, March soybeans are up 31 1/2 cents, March KC wheat is up 9 cents, March Chicago wheat is up 7 1/2 cents and March Minneapolis wheat is up 7 1/4 cents. The Dow Jones Industrial Average is down 318.59 points and March crude oil is down $0.17 per barrel. The U.S. Dollar Index is up 0.210 and February gold is down $4.90 per ounce. Soybeans and bean oil are leading the way higher following last week's liquidation. Although weather in South America has improved, southern Argentina along with north and east central Brazil remain too dry.

Posted 08:41 -- March corn is up 2 1/2 cents per bushel, March soybeans are up 10 1/4 cents, March KC wheat is down 1/2 cent, March Chicago wheat is up 1 cent and March Minneapolis wheat is up 3/4 cent. The Dow Jones Industrial Average is down 95.48 points and March crude oil is down $0.33 per barrel. The U.S. Dollar Index is up 0.090 and February gold is up $4.60 per ounce. Grains and soybeans have recovered from overnight weakness.

Posted on Jan. 24 at 7:05 p.m. -- After Friday's sharply lower closes, grains are mixed early Sunday evening. March corn is down 3/4 cent, March soybeans are up 3 cents and March KC wheat is down 5 cents. The latest seven-day forecast expects beneficial rains over most of Brazil and Argentina. Here in the U.S., moderate to heavy precipitation will cover much of the central and eastern Midwest, including the western states of Kansas and Oklahoma. Iowa will see heavy snow amounts. Outside markets are quiet with Dow Jones futures trading up 70 points and the March U.S. Dollar Index down 0.03. February gold is up $3.30 and March crude oil is up 10 cents a barrel.

Livestock

OMAHA (DTN) -- April live cattle closed up $0.43 at $122.95, March feeder cattle closed down $0.30 at $143.85, February lean hogs closed up $0.70 at $70.625, February pork cutout closed up $1.05 at $0.829, March corn closed up 11 cents per bushel and March soybean meal closed up $8.00. The Dow Jones Industrial Average is down 111.55 points and NASDAQ is up 48.73 points. Total beef in cold storage at the end of December increased 4% from November levels and increased 11% from year ago levels. Pork in storage continues to move to decade long lows, falling to the lowest point since September 2010. The continued active disappearance in pork product continues to focus on active demand support, while beef stocks have raised cautionary flags about the ability to sustain recent demand.

Posted 11:33 -- April live cattle are up $0.53 at $123.05, March feeder cattle are up $0.20 at $144.35, April lean hogs are up $0.18 at $76.325, March corn is up 14 1/2 cents per bushel and March soybean meal is up $11.50. The Dow Jones Industrial Average is down 207.33 points and NASDAQ is down 34.14 points. The livestock complex is rolling into Monday's trade far more optimistic than many anticipated. The bearish resistance that loomed over the nearby contracts in the live cattle, feeder cattle and lean hog markets has dissipated and is now allowing for the markets to trade mostly higher, which continues to reignite the supportive nature that's building in the entire livestock complex.

Posted 10:33 -- April live cattle are down $0.23 at $122.3, March feeder cattle are down $0.40 at $143.75, April lean hogs are down $0.28 at $75.875, March corn is up 9 cents per bushel and March soybean meal is up $10.40. The Dow Jones Industrial Average is down 321.87 points and NASDAQ is down 50.34 points. Considering that the corn market is attempting to take back some of what last week gave away, the nearby losses in livestock contracts are thankfully still quite manageable. With both the live cattle and feeder cattle contracts having the ability to trade within the expanded limit ranges, many were worried that Monday was going to be a blood bath.

Posted 08:33 -- April live cattle are down $0.55 at $121.975, March feeder cattle are down $0.65 at $143.5, April lean hogs are up $0.03 at $76.175, March corn is down 1/2 cent per bushel and March soybean meal is up $0.60. The Dow Jones Industrial Average is down 79.80 points and NASDAQ is up 143.20 points. Following last week's exhilarating trade, especially later in the week for the livestock contracts, the complex is hopeful for another robust week. The two things that could potentially hinder the cattle contract's ability to trade higher is the bearish news from the Cattle on Feed report and the fact that both live cattle and feeder cattle could trade in expanded limits, which could shake some volatility into the complex.

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