DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 1 1/4 cents per bushel, March soybeans are up 5 cents, March KC wheat is up 19 1/4 cents, March Chicago wheat is up 20 3/4 cents and March Minneapolis wheat is up 3 cents. The Dow Jones Industrial Average is down 77.36 points and March crude oil is up $1.90 per barrel. The U.S. Dollar Index is up 0.090 and February gold is up $9.70 per ounce. Corn has relinquished some of its morning gains, while hard wheat markets continue to keep solid gains. Funds have again stepped in to buy wheat, corn and bean oil, with midday estimates at close to 10,000 wheat, and 15,000 corn contracts. Weather in South America turns warm and dry again into February.

Posted 10:32 -- March corn is up 7 1/2 cents per bushel, March soybeans are up 3 1/2 cents, March KC wheat is up 17 cents, March Chicago wheat is up 17 1/4 cents and March Minneapolis wheat is up 5 cents. The Dow Jones Industrial Average is down 302.87 points and March crude oil is up $1.41 per barrel. The U.S. Dollar Index is up 0.220 and February gold is up $5.00 per ounce. Wheat and corn futures are very firm on the threat of Black Sea export shipments of corn and wheat being impacted in the event that Russia invades Ukraine. Soybeans and bean oil are also rising as crude oil makes a new daily high. March corn is within a few cents of the June 2021 high at $6.33.

Posted 08:35 -- March corn is up 1 3/4 cents per bushel, March soybeans are down 1/2 cent, March KC wheat is up 12 1/2 cents, March Chicago wheat is up 15 1/4 cents and March Minneapolis wheat is up 9 1/4 cents. The Dow Jones Industrial Average is down 330.82 points and March crude oil is up $0.46 per barrel. The U.S. Dollar Index is up 0.310 and February gold is down $1.50 per ounce. Wheat markets remain the bullish leader based on the ongoing Russian-Ukraine border standoff. Corn and soybeans have recovered from early weakness. Weather remains short-term bearish in South America, while the extended forecast suggests a return to warm and dry weather. There were no new sales reported early on Tuesday.

Livestock

Posted 11:34 -- April live cattle are down $0.30 at $139.775, March feeder cattle are down $2.13 at $159.125, April lean hogs are up $1.35 at $96.675, March corn is up 5 cents per bushel and March soybean meal is down $1.40. The Dow Jones Industrial Average is down 275.95 points and NASDAQ is down 351.82 points. There has been some cash cattle trade in the South at $137 -- which is fully steady with last week's average. It's likely the bulk of the week's trade waits until Wednesday or later. Asking prices in the North have yet to be disclosed.

Posted 08:34 -- April live cattle are down $0.13 at $139.95, March feeder cattle are down $0.80 at $160.45, April lean hogs are up $1.00 at $96.325, March corn is up 1 1/4 cents per bushel and March soybean meal is down $2.60. The Dow Jones Industrial Average is down 327.57 points and NASDAQ is down 229.86 points. Diving into Tuesday's trade, the cattle contracts are keeping with their depressed tone, while the lean hog contracts set out to keep their rally alive. The cash cattle market could see some interest arise throughout the day; early asking prices in the South are noted at $138.

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