DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 1 cent per bushel, March soybeans are up 26 3/4 cents, March KC wheat is up 3 1/2 cents, March Chicago wheat is up 2 cents and March Minneapolis wheat is down 1/4 cent. The Dow Jones Industrial Average is down 115.76 points and March crude oil is down $1.47 per barrel. The U.S. Dollar Index is up 0.260 and February gold is down $7.30 per ounce. Soybeans and soymeal continue to extend the gains, with March meal setting another new high. Wheat markets are mixed with KC headed for a fifth straight higher close, while corn is barely above unchanged following disappointing inspections.

Posted 10:38 -- March corn is up 1/4 cent per bushel, March soybeans are up 20 3/4 cents, March KC wheat is up 9 1/2 cents, March Chicago wheat is up 4 1/2 cents and March Minneapolis wheat is up 4 3/4 cents. The Dow Jones Industrial Average is down 74.72 points and March crude oil is down $0.67 per barrel. The U.S. Dollar Index is up 0.160 and February gold is down $6.70 per ounce. The Soy complex is surging higher, led by soybeans and meal, as Argentina, following some scattered showers midweek looks to turn drier once again. The 16- to 30-day weather outlook returns to dryness. That, coupled with the return of China from a week-long holiday break, has brought buyers in to start the week. Corn is having trouble mounting a rally, while KC wheat is up for the fifth straight day on winterkill concerns.

Posted 08:34 -- March corn is up 3/4 cent per bushel, March soybeans are up 24 1/4 cents, March KC wheat is up 6 1/2 cents, March Chicago wheat is up 2 cents and March Minneapolis wheat is up 2 1/4 cents. The Dow Jones Industrial Average is down 107.72 points and March crude oil is down $1.21 per barrel. The U.S. Dollar Index is down 0.010 and February gold is down $1.80 per ounce. USDA announced a new corn sale to Japan of 112,000 mt (4.4 million bushels) of corn for the 2022-23 crop year. Soybeans and soymeal continue to surge higher on the mostly dry forecast for Argentina over the next few weeks and China's return from a week-long holiday.

Posted Sunday, Jan. 29, at 7:05 p.m. CST -- After the Sunday evening open, grains are mostly higher. March corn is up 2 1/2 cents and March soybeans are up 14 1/2 cents. Argentina received scattered rain coverage over the weekend, over an inch in areas with limited chances for more this week. March KC wheat is up 2 3/4 cents and March Minneapolis wheat is down 1 1/2 cents. Sub-freezing temperatures are expected to reach as far south as central Texas on Monday morning with western Kansas already in single digits on Sunday. March crude oil is up $0.65 and Dow Jones futures are down 44 points. The U.S. Dollar Index is down 0.02 and April gold is up $.60 with another rate hike expected Wednesday.

Livestock

Posted 11:40 -- April live cattle are up $2.43 at $163.25, March feeder cattle are up $0.95 at $184.425, April lean hogs are down $0.28 at $86.175, March corn is up 1/2 cent per bushel and March soybean meal is up $12.80. The Dow Jones Industrial Average is down 83.60 points. The cash cattle market is very quiet Monday morning, with both buyers and sellers busy taking inventory. Bids and asking prices are yet to be established. Both live and feeder cattle futures moderately to sharply higher near midday. Beef cutouts are higher at midday (choice $267.83 +0.07, Select $251.68 +1.14) with a total load count of 36, the choice select spread is $16.15. Lean hog futures are modestly to moderately lower. The midday pork cutout is up $2.21 at $81.46.

Posted 08:40 -- April live cattle are up $0.55 at $161.375, March feeder cattle are up $0.15 at $183.625, April lean hogs are down $1.33 at $85.125, March corn is up 3/4 cent per bushel and March soybean meal is up $12.00. Live and feeder cattle contracts are starting out the day in the green, but lean hogs are fully in the red. The Dow Jones Industrial Average is down 93.97 points. Last week's cash cattle market had Southern live trade marked at mostly $156, $1 higher than the previous week's weighted averages. While Northern dressed business was mostly $248, fully steady with the prior week.

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