DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
Posted 10:35 -- March corn is up 4 cents and January soybeans are down 3/4 cent. March KC wheat is down 2 cents and March Minneapolis wheat is down 3/4 cent. January crude oil is up $0.54 and Dow Jones futures are up 249 points. The U.S. Dollar Index is up 0.01 and December gold is up $18.90. It is thus far a very low volume affair in grain markets, which is not surprising for a post-holiday session. Grains are finding support at technical levels on charts with very little else to trade in terms of fresh fundamental news. March KC wheat traded within a half cent of contract lows Friday morning but have found buying support to stay above this level for now.
Posted 08:40 -- March corn is up 2 cents per bushel, January soybeans are up 6 cents per bushel. March KC wheat is up 3/4 cent per bushel, March Chicago wheat is down 2 cents per bushel and March Minneapolis wheat is down 1/4 cent. The Dow Jones Industrial Average is up 144.03 points at 44,866.09. The U.S. Dollar Index is down 0.020 at 106.03. January crude oil is up $0.72 per barrel at $69.44. USDA reported two new sales of soybeans to unknown destinations for 2024-25: Sold a total of 991,700 mt (36.4 mb). To end the week, corn and soy markets are higher, with soy getting a boost from the surging bean oil market, as export sales on bean oil far exceeded expectations. Wheat markets are mixed to mostly lower.
LivestockOMAHA (DTN) -- February live cattle are up $0.43 at $189.025, January feeder cattle are up $1.08 at $259.85, February lean hogs are down $1.58 at $86.35, March corn is up 3 3/4 cents per bushel and January soybean meal is down $3.40. The Dow Jones Industrial Average is up 327.31 points. A single big of $191 has been renewed in the cash cattle market, but otherwise the market is idle following Wednesday's trade. So far this week Southern live cattle were sold for mostly $190 which is $3.00 to $4.00 higher than last week's weighted average, and Northern dressed cattle sold for mostly $295 which is $5.00 higher than last week's weighted average.
Posted 08:41 -- February live cattle are up $0.15 at $188.75, January feeder cattle are up $0.13 at $258.9, February lean hogs are steady, March corn is up 2 cents per bushel and January soybean meal is down $2.40. The Dow Jones Industrial Average is up 146.24 points. Beef net sales of 4,800 mt for 2024 -- a marketing year low -- were down 66% from the previous week and 61% from the prior four-week average. The three primary buyers were China (1,500 mt), Mexico (800 mt) and Japan (800 mt). Pork net sales of 17,200 mt for 2024 were down 5% from the previous week, but up 1% from the prior 4-week average. The three primary buyers were Mexico (8,300 mt), Japan (2,100 mt) and Colombia (1,900 mt).
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