DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- March corn is up 6 1/2 cents per bushel, January soybeans are up 20 cents, March KC wheat is down 20 cents, March Chicago wheat is down 14 cents and March Minneapolis wheat is down 20 1/4 cents. The Dow Jones Industrial Average is down 228.43 points and January crude oil is down $0.26 per barrel. The U.S. Dollar Index is down 0.110 and February gold is up $22.80 per ounce. Soybeans and meal remain very firm on renewed interest in beans by China, strong crush margins and incoming warm and dry weather for Argentina and southern Brazil for last half of December. Wheat markets remain under serious pressure on thoughts that the U.S. is unlikely to get some of the Saudi tender. Funds have sold wheat, while buying all of the other ags. Rumors have China making more soy purchases.

Posted 10:36 -- March corn is up 6 1/4 cents per bushel, January soybeans are up 21 cents, March KC wheat is down 11 1/2 cents, March Chicago wheat is down 7 3/4 cents and March Minneapolis wheat is down 12 1/4 cents. The Dow Jones Industrial Average is down 117.21 points and January crude oil is up $1.38 per barrel. The U.S. Dollar Index is up 0.070 and February gold is up $14.60 per ounce. The wheat markets remain down sharply, while soybeans are soy meal are soaring. For the second day, a new sale of soybeans was announced to China, and rumors have China buying more U.S. soybeans. Soybean oil and corn are getting help from the recovery in crude oil.

Posted 10:38 -- March corn is up 4 cents per bushel, January soybeans are up 18 cents, March KC wheat is down 8 1/2 cents, March Chicago wheat is down 4 cents and March Minneapolis wheat is down 12 1/4 cents. The Dow Jones Industrial Average is up 117.22 points and January crude oil is up $2.34 per barrel. The U.S. Dollar Index is up 0.040 and February gold is up $9.90 per ounce. USDA announced another sale of soybeans to unknown: 122,000 mt (4.5 mb) for 2021-22. Stats Canada reported all wheat production at 21.65 mmt -- about as expected and down 38.5%. Canola production at 12.595 mmt was down 35.5%. Soybeans are up sharply, as it finally appears that China is ramping up soy purchases.

Livestock

Posted 11:41 -- February live cattle are down $0.45 at $139.125, January feeder cattle are down $1.28 at $164.5, February lean hogs are down $0.55 at $81.45, March corn is up 5 1/2 cents per bushel and January soybean meal is up $7.50. The Dow Jones Industrial Average is down 116.43 points and NASDAQ is down 349.41 points. It's a quiet day throughout the livestock complex as the market seems like it's done with most of its trading for the week. There's a bid being offered in Nebraska at $140, but by and large this week's cash cattle business is done with.

Posted 08:38 -- February live cattle are up $0.68 at $140.25, January feeder cattle are up $0.48 at $166.25, February lean hogs are down $0.10 at $81.9, March corn is up 5 cents per bushel and January soybean meal is up $6.50. The Dow Jones Industrial Average is up 148.34 points and NASDAQ is up 66.52 points. As the market heads into the last trading day of the week, feedlots are thinking that a little more cash cattle trade will develop, but largely the week's business is done with. The lean hog market is reluctant to trade higher right from the day's get go, but if pork cutouts have another strong day, they may be able to turn higher by the day's end.