DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- March corn is down 1 cent per bushel, January soybeans are up 3/4 cent, March KC wheat is down 9 1/4 cents, March Chicago wheat is up 1/2 cent and March Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average is down 33.98 points and January crude oil is up $1.10 per barrel. The U.S. Dollar Index is up 0.100 and December gold is up $8.50 per ounce. Early gains in the grain and soy markets have pretty much dissipated ahead of the close on a day which features little in the way of fresh news. Only soybeans are showing a minimal gain, but products have leaked. Wheat markets continue to be under a bearish trade pattern as Russia and Ukraine dominate world trade.

Posted 10:41 -- March corn is up 1 1/4 cents per bushel, January soybeans are up 7 3/4 cents, March KC wheat is up 3 cents, March Chicago wheat is up 7 3/4 cents and March Minneapolis wheat is up 2 cents. The Dow Jones Industrial Average is down 123.47 points and January crude oil is up $0.29 per barrel. The U.S. Dollar Index is down 0.020 and December gold is up $8.70 per ounce. Corn is gravitating around unchanged in two-sided trade, while soybean oil, firm early, has now weakened along with crude oil. Overhanging the markets is the stigma of continued lockdowns and protests in China, but soybeans continue to be firm and still in a solid uptrend.

Posted 08:35 -- After Tuesday's 8:30 a.m. CST open, March corn is down 1 1/4 cents and January soybeans are up 4 1/2 cents with early support from higher trade in soybean oil and a $1.62 gain in January crude oil. March KC wheat is down 7 1/4 cents and March Minneapolis wheat is down 1 3/4 cents. Tuesday morning's weather map shows snow falling from Colorado to southern Minnesota as a cold front pushes in from the northwestern Plains. The Dow Jones futures are down 86 points, the U.S. Dollar Index is up 0.10 and December gold is up $5.70.

Livestock

Posted 11:27 -- February live cattle are up $0.20 at $154.875, January feeder cattle are up $0.45 at $177.325, February lean hogs are down $0.10 at $84.65, March corn is down 1 1/2 cents per bushel and January soybean meal is down $4.00. The Dow Jones Industrial Average is down 112.86 points. With corn prices trending lower into Tuesday afternoon, both the live and feeder cattle contracts are higher. The cash cattle market won't likely see any trade until Wednesday or Thursday, but early asking prices in the South are noted at $156 to $157, and are still unestablished in the North.

Posted 08:39 -- February live cattle are up $0.10 at $154.775, January feeder cattle are up $0.48 at $177.35, February lean hogs are up $0.38 at $85.125, March corn is down 1 cent per bushel and January soybean meal is down $3.40. The Dow Jones Industrial Average is down 60.96 points. With the corn market off to a lower start, both the live cattle and feeder cattle contracts are trading higher. After bottoming Monday afternoon, the lean hog complex is trading higher too, hoping that it will find support in this week's pork sales.

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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