DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March Minneapolis wheat is down 8 1/2 cents. The Dow Jones Industrial Average is up 198.32 points at 35,145.60 and the U.S. Dollar Index is down 0.470 at 103.45 and January crude oil is up $2.36 per barrel at $78.40. Ahead of the close, soybeans are soaring, with January now more than 35 cents above the early low. Soy products are also both moving higher as funds have bought both soybeans and bean oil. Wheat remains very weak after all three March contracts have set new lows on Monday.

Posted 10:35 -- December corn is down 1 1/2 cents per bushel, January soybeans are up 10 1/2 cents per bushel. March KC wheat is down 5 1/2 cents per bushel, December Chicago wheat is down 4 1/2 cents per bushel and March Minneapolis wheat is down 6 cents. The Dow Jones Industrial Average is up 91.79 points at 35,039.07 and the U.S. Dollar Index is down 0.420 at 103.50 and January crude oil is up $2.10 per barrel at $78.14. Soybeans and bean oil are very firm, while the rest of the grain and soy complex is lower. Export sales and inspections on wheat continue to be down sharply from a year ago. Soybean oil is higher for the eighth time in the past nine days as the fundamental outlook remains bullish for domestic bean oil usage.

Posted 08:33 -- December corn is up 1 3/4 cents per bushel, January soybeans are up 15 cents per bushel. March KC wheat is down 1 cent per bushel, December Chicago wheat is down 3/4 cent per bushel and March Minneapolis wheat is down 2 cents. The Dow Jones Industrial Average is up 3.21 points at 34,950.49 and The U.S. Dollar Index is down 0.260 at 103.66 and January crude oil is up $1.40 per barrel at $77.44. USDA reported another new corn sale to Mexico -- sold 104,000mt, or 4.1 million bushels for 2023-24. Soybeans and bean oil are very firm to start the new week, while wheat markets are again under pressure, with KC down for the fifth straight day.

Posted Sunday, Nov. 19, at 7:05 p.m. CST -- After the Sunday evening open, December corn is down 1 3/4 cents and January soybeans are down 11 cents with rain falling in the western Plains, expected to move east on Monday. The forecast is wet for central Brazil this week and heavy rains are expected to return to southern Brazil Wednesday and Thursday. Northern Argentina has chances for rain on Tuesday and Wednesday. December Kansas City wheat is down 2 3/4 cents and December Minneapolis wheat is down 2 1/2 cents. January crude oil is down $0.09 and Dow Jones futures are down 5 points. The U.S. Dollar Index is down 0.02 and December gold is down $3.80. Javier Milei is the new president of Argentina, described by Reuters as a libertarian with plans to tie the peso to the U.S. dollar.

Livestock

Posted 11:34 -- February live cattle are down $0.53 at $176.275, January feeder cattle are up $0.15 at $228.65, December lean hogs are down $0.78 at $70.2, December corn is down 1 1/4 cents per bushel and December soybean meal is up $1.50. The Dow Jones Industrial Average is up 124.59 points. New showlists appear to be mixed, higher in the South, but lower in Nebraska/Colorado. Significant trade volume may take place a little earlier this week due to the upcoming Thanksgiving holiday, but so far bids and asking prices have yet to be established. Beef cutouts are higher at midday (choice 296.15 +2.28, select 272.41 +1.71) with light to moderate box movement (52 lds of choice cuts, 10 lds of select cuts, 00 lds of trim, and 07 lds of ground), with a choice/select spread of 23.74. Monday's projected cattle slaughter is 126,000. Pork cutouts at midday are 87.22, -0.94, with 176.18 total loads. Monday's projected hog slaughter is 487,000.

Posted 08:45 -- February live cattle are up $1.18 at $177.975, January feeder cattle are up $3.00 at $231.5, December lean hogs are up $0.48 at $71.45, December corn is up 1 cent per bushel and December soybean meal is down $4.40. The Dow Jones Industrial Average is up 15.26 points. Cash cattle country looks to be a typically quiet Monday with the cash cattle trade expected to be at a virtual standstill. Last week's business saw Southern live deals marked at $175 to $178, mostly $178, $2 to $3 lower than the prior week's weighted averages. Northern dressed trade had a full range of $278 to $285, mostly $282, $4 lower than the previous week's weighted average basis Nebraska. The National average base hog price was $1.85 softer, down to $652.27 in the morning Friday update. The CME Lean Hog Index was up by $0.07 to $76.06.

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