DTN's Quick Takes

By DTN Analysts

Grains

Posted 10:37 -- December corn is up 4 1/4 cents per bushel, January soybeans are up 2 cents, March KC wheat is up 1 3/4 cents, March Chicago wheat is down 1 1/4 cents and March Minneapolis wheat is up 3/4 cent. The Dow Jones Industrial Average is up 161.11 points and January crude oil is down $0.12 per barrel. The U.S. Dollar Index is up 0.280 and December gold is up $4.30 per ounce. In very quiet trade, corn and soy are slightly firmer while wheat is a mixed bag. There is little news other than December option expiry, and bearish COVID news from China. Pakistan has canceled their tender for 500,000 mt of optional milling wheat. Rumors have China buying as much as 300,000 mt of Brazilian corn.

Posted 08:35 -- December corn is up 2 1/2 cents per bushel, January soybeans are down 1 cent, March KC wheat is up 7 1/4 cents, March Chicago wheat is up 4 1/2 cents and March Minneapolis wheat is up 2 1/4 cents. The Dow Jones Industrial Average is up 44.01 points and January crude oil is up $0.28 per barrel. The U.S. Dollar Index is up 0.520 and December gold is up $3.40 per ounce. Grain and soy markets are mixed to slightly firmer in quiet holiday trade, with markets closing just after noon. Bearish vibes are overhanging the markets as China COVID-19 cases rise, while outside markets are trading on a more positive note on the prospect of the Federal Reserve possibly slowing the pace of interest rate hikes.

Livestock

OMAHA (DTN) -- February live cattle are down $0.33 at $155.1, January feeder cattle are down $0.88 at $178.375, February lean hogs are down $0.18 at $88.625, December corn is up 4 1/4 cents per bushel and January soybean meal is down $1.20. The Dow Jones Industrial Average is up 171.91 points. The livestock complex is trading in a post-holiday sluggish fashion as the market isn't seeing enough technical support to justify higher trade. Meanwhile the cash cattle market hasn't seen any bids renewed at this point which likely means that the week's cash cattle trade is done with.

Posted 08:34 -- February live cattle are up $0.10 at $155.525, January feeder cattle are up $0.48 at $179.725, February lean hogs are down $0.73 at $88.075, December corn is up 2 cents per bushel and January soybean meal is down $1.00. The Dow Jones Industrial Average is up 50.93 points. Beef net sales of 12,900 mt for 2022 were primarily for South Korea (4,600 mt), China (4,100 mt) and Japan (1,700 mt). Pork net sales of 45,800 mt for 2022 were primarily for Mexico (18,200 mt), Japan (10,200 mt) and Canada (4,100 mt).

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This year's DTN Ag Summit will be conducted virtually on the mornings of Dec. 12-13, 2022. Please join us for DTN lead analyst Todd Hultman's insights into how long these high crop prices will last and what to watch for in the year ahead. Full details available at www.dtn.com/agsummit

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