DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 1 3/4 cents per bushel, March soybeans are up 11 cents per bushel. March KC wheat is up 1 cent per bushel, March Chicago wheat is up 3 cents per bushel and March Minneapolis wheat is down 1 3/4 cents. The Dow Jones Industrial Average is up 196.97 points at 38,868.66 and The U.S. Dollar Index is down 0.050 at 104.06 and March crude oil is down $0.06 per barrel at $76.78. Soybeans and soymeal have held much of the morning strength ahead of the close with corn up a couple of cents and wheat remains mixed in very low volume trade. There is very little news driving the markets. There continues to be a wide range of guesses for Brazil's soybean crop, with a Brazilian farmers group implying the crop is 20 million metric tons less that the February WASDE report estimate.

Posted 10:35 -- March corn is up 2 1/2 cents per bushel, March soybeans are up 12 cents per bushel. March KC wheat is up 1/4 cent per bushel, March Chicago wheat is up 2 1/2 cents per bushel and March Minneapolis wheat is steady. The Dow Jones Industrial Average is up 176.44 points at 38,848.13 and The U.S. Dollar Index is up 0.000 at 104.11 and March crude oil is down $0.13 per barrel at $76.71. Soybeans, soymeal, and corn continue to be Monday's winners, while wheat is still mixed and bean oil down slightly on a day when there is little news. Both China and South America are off celebrating holidays, helping to subdue trade early in the week.

Posted 08:37 -- March corn is up 1 1/2 cents per bushel, March soybeans are up 7 3/4 cents per bushel. March KC wheat is down 1 1/4 cents per bushel, March Chicago wheat is down 4 1/4 cents per bushel and March Minneapolis wheat is down 2 1/4 cents. The Dow Jones Industrial Average is up 5.83 points at 38,677.52, the U.S. Dollar Index is up 0.070 at 104.18, and March crude oil is down $0.16 per barrel at $76.68. It is quiet early Monday, with corn, soybeans and soymeal all firm to start and wheat and bean oil mostly lower. Both China and South America are celebrating holidays this week, removing some volume. Weather continues to be mostly bearish in South America.

Posted 19:06 (02/11) -- After the Sunday evening open, March corn is up 3/4 cent and March soybeans are up 1 1/4 cents. Showers are expected to turn lighter in central Brazil this week, favorable for soybean harvest and corn planting. In southern Brazil and Argentina, crops will benefit from better rain coverage this week. March KC wheat is up 1/2 cent, and March Minneapolis wheat is down 1/4 cent. Oklahoma and the Texas Panhandle are currently getting a mix of snow and rain. March crude oil is down $0.45, and Dow Jones futures are up 12 points. The U.S. Dollar Index is down 0.13, and April gold is up $1.90. Markets in China are closed this week for the Lunar New Year. The 49ers lead 10-0 with one minute left in the first half.

Livestock

Posted 11:41 -- April live cattle are down $1.18 at $185.55, March feeder cattle are up $0.85 at $248., April lean hogs are down $0.28 at $80.875, March corn is up 2 cents per bushel and March soybean meal is up $7.50. The Dow Jones Industrial Average is up 174.40 points. The livestock complex is mixed near Monday's noon hour as the live cattle market is still trying to fully wrap its head around what developed last week with the strong $4.00 to $10.00 jump in the cash market. New showlists appear to be mixed, higher in Kansas, but lower in Texas, and Nebraska/Colorado.

Posted 08:35 -- April live cattle is steady, March feeder cattle are up $0.28 at $247.425, April lean hogs are up $0.40 at $81.55, March corn is up 2 1/4 cents per bushel and March soybean meal is up $6.50. With the vast majority of last week's cash cattle trade developing after the cut off time for mandatory reports, it will be very interesting to see exactly how many cattle were bought last week and committed for what delivery option. If packers got enough cattle bought, they could potentially not have to support this week's cash market as much.

(c) Copyright 2024 DTN, LLC. All rights reserved.