DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is steady, January soybeans are up 4 cents per bushel. March KC wheat is up 3 3/4 cents per bushel, March Chicago wheat is up 9 cents per bushel and March Minneapolis wheat is up 6 3/4 cents. The Dow Jones Industrial Average is down 53.20 points at 35,097.84 and The U.S. Dollar Index is up 0.180 at 103.61 and January crude oil is down $0.16 per barrel at $77.67. Ahead of the close, soybeans and soybean oil remain higher, while corn is slipping and all three wheat markets are solidly higher. Rumor has it China may have picked up 500,000 to 800,000 mt of U.S. soybeans from the west coast, and there are more rumors of China interest in U.S. soft red wheat.

Posted 10:32 -- December corn is up 1 1/4 cents per bushel, January soybeans are up 3 1/2 cents per bushel. March KC wheat is up 5 1/4 cents per bushel, March Chicago wheat is up 6 1/4 cents per bushel and March Minneapolis wheat is up 5 1/4 cents. The Dow Jones Industrial Average is down 90.38 points at 35,060.66 and the U.S. Dollar Index is up 0.020 at 103.46 and January crude oil is down $0.51 per barrel at $77.32. Soy products have flipped, with soybean oil now higher and soymeal trading in the red and down about $12/ton since Tuesday morning. Soybeans are still higher, but nearly 20 cents below the morning high. After a brief dip below unchanged, KC March wheat is now trading higher again.

Posted 08:34 -- December corn is up 3 3/4 cents per bushel, January soybeans are up 13 1/2 cents per bushel. March KC wheat is up 1 cent per bushel, March Chicago wheat is up 2 1/4 cents per bushel and March Minneapolis wheat is up 1 1/2 cents. The Dow Jones Industrial Average is down 41.65 points at 35,109.39 and The U.S. Dollar Index is down 0.200 at 103.23 and January crude oil is down $0.63 per barrel at $77.20. Grain and soy markets are higher, with only soybean oil down to start. Soybeans and soymeal are continuing the impressive recovery that began Monday morning. Even more impressive is that soybean strength is coming despite beneficial rain that is and will fall in the driest areas of Brazil.

Livestock

Posted 11:38 -- February live cattle are down $0.90 at $175.75, January feeder cattle are down $1.25 at $228.6, December lean hogs are down $1.98 at $68.375, December corn is steady and January soybean meal is steady. The Dow Jones Industrial Average is down 70.78 points. Cattle country remains quiet with bids and asking prices non-existent. Beef cutouts are lower at midday (choice $295.51, -$0.24, select $270.80, -$0.15) with light to moderate box movement (46 loads of choice cuts, 13 loads of select cuts, 00 l loads of trim, and 08 loads of ground), with a choice/select spread of $24.71. Tuesday's projected cattle slaughter is 127,000. Pork cutouts at midday are $86.82, +$0.73, with 167.36 total loads. Tuesday's projected hog slaughter is 488,000.

Posted 08:41 -- February live cattle are up $0.23 at $176.875, January feeder cattle are up $0.48 at $230.325, December lean hogs are down $1.15 at $69.2, December corn is up 3 3/4 cents per bushel and January soybean meal is up $4.00. The Dow Jones Industrial Average is down 66.19 points. In cash cattle country, asking prices have yet to be established and bids remain very elusive. Significant trade volume could be delayed for at least one more day.

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