DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 6 1/4 cents per bushel, March soybeans are down 8 1/2 cents, March KC wheat is up 1 cent, March Chicago wheat is down 5 1/4 cents and March Minneapolis wheat is down 5 1/4 cents. The Dow Jones Industrial Average is down 159.96 points and March crude oil is down $0.59 per barrel. The U.S. Dollar Index is down 0.140 and February gold is down $10.40 per ounce. Corn futures are rising, with spot March leading the way, suggesting demand. Most feel that the Friday morning sale to unknown was either China or Mexico. Funds have been minor players so far on Friday, buying an estimated 5,000 corn and selling 7,000 beans and 5,000 meal. China corn values are near $11.00 per bushel, while Brazilian beans are well over $8.00.

Posted 10:30 -- March corn is up 3 cents per bushel, March soybeans are down 9 1/4 cents, March KC wheat is up 2 1/2 cents, March Chicago wheat is down 4 1/4 cents and March Minneapolis wheat is down 1 3/4 cents. The Dow Jones Industrial Average is up 116.18 points and March crude oil is down $0.12 per barrel. The U.S. Dollar Index is down 0.140 and February gold is down $8.10 per ounce. As we approach midmorning Friday, soybeans and meal remain lower, while corn and bean oil are firm. Corn demand continues to be good, both on the export front and the domestic ethanol side. A new sale of nearly 10 mb was sold to unknown destinations and possibly part of the much-rumored China sales.

Posted 08:35 -- March corn is up 1 1/4 cents per bushel, March soybeans are down 6 cents, March KC wheat is down 2 3/4 cents, March Chicago wheat is down 5 1/2 cents and March Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average is down 68.09 points and March crude oil is down $0.82 per barrel. The U.S. Dollar Index is down 0.220 and February gold is down $1.50 per ounce. USDA announced two new export sales at 8 a.m. -- a sale of 132,000 mt (4.85 mb) of soybeans to China for the 2021-22 crop year, and a sale of 247,800 mt (9.76 mb) of corn to unknown destinations. Corn and bean oil remain relatively firm, while soybeans, meal, and wheat remain lower.

Livestock

Posted 11:31 -- February cattle are down 37 cents early Friday, on track for a roughly steady close on the week, in spite of concerns about a slower slaughter pace and this week's lower stock market. USDA said choice boxed beef was down 26 cents at $292.72, while selects were up 49 cents. Both are roughly $8 higher or more on the week and have shown steady progress since mid-December. March feeder cattle are down $1.30, while March corn is up 3 1/2 cents. February lean hogs are trading up $1.35, threatening to make a new three-month high with help from USDA's report of 38,700 mt of pork export sales last week. March Dow Jones futures are trading down 116 points.

Posted 08:35 -- February cattle are down 20 cents early Friday, a little lower ahead of Friday afternoon's on-feed report. Dow Jones estimates Friday's cattle slaughter at 117,000, up from 115,000 a week ago. March feeder cattle are steady and March corn is also steady. February lean hogs are trading down $0.55. Dow Jones estimates Friday's hog slaughter at 463,000, up from 456,000 last week. USDA reported 12,800 mt of beef exports and 38,700 mt of pork exports for last week. March Dow Jones futures are trading down 170 points with more earnings disappointments reported, another week of high coronavirus cases and talks continuing between the U.S. and Russia over the threat to Ukraine. The March U.S. Dollar Index is down 0.23. March crude oil is down 0.50. February gold is down $0.50.

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