DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 3/4 cent per bushel, January soybeans are down 5 1/2 cents per bushel. March KC wheat is up 3 cents per bushel, March Chicago wheat is up 1 1/4 cents per bushel and March Minneapolis wheat is up 4 1/2 cents. The Dow Jones Industrial Average is down 43.87 points at 44,598.65. The U.S. Dollar Index is up 0.010 at 106.07. January crude oil is up $1.35 per barrel at $68.55. Just ahead of the close, beans and bean oil remain lower and wheat, corn and soymeal higher in very low volume trade. There are not expected to be any dramatic changes in the December WASDE report, but funds go into the report long corn, expecting a decline in ending stocks.

Posted 10:35 -- March corn is up 1 cent per bushel, January soybeans are down 3 1/4 cents per bushel. March KC wheat is up 7 cents per bushel, March Chicago wheat is up 5 cents per bushel and March Minneapolis wheat is up 6 3/4 cents. The Dow Jones Industrial Average is down 55.47 points at 44,587.05. The U.S. Dollar Index is down 0.160 at 105.90. January crude oil is up $1.33 per barrel at $68.53. At midmorning, soybeans and bean oil are lower with corn, soymeal and all three wheat markets higher on a quiet news day ahead of Tuesday's December WASDE report. The report is expected to reflect ongoing strong U.S. corn demand with possible upward revisions to exports and corn for ethanol use.

Posted 08:35 -- March corn is up 1 1/2 cents per bushel, January soybeans are up 7 1/2 cents per bushel. March KC wheat is up 4 1/4 cents per bushel, March Chicago wheat is up 5 cents per bushel and March Minneapolis wheat is up 4 1/4 cents. The Dow Jones Industrial Average is up 59.78 points at 44,702.30 points. The U.S. Dollar Index is down 0.120 at 105.94. January crude oil is up $0.99 per barrel at $68.19. Grain and soy markets start the new week stronger, led by wheat and soybean meal. Tuesday will feature the December WASDE report and there are only minor changes expected in the corn balance sheet, such as an increase in demand.

Livestock

Posted 11:35 -- February live cattle are up $1.63 at $187.8, January feeder cattle are up $0.73 at $256.55, February lean hogs are down $0.70 at $86.625, March corn is up 3/4 cent per bushel and January soybean meal is up $1.70. The Dow Jones Industrial Average is down 73.07 points. All remains quiet in cash cattle country at this time, with bids and asking prices still not established. New showlists appear to be mixed, higher in Kansas and Texas, but lower in Nebraska/Colorado. Beef cutouts are higher at midday (choice 314.31 +2.27, select 279.33 +2.60) with light box movement (26 lds of choice cuts, 08 lds of select cuts, 00 lds of trim, and 10 lds of ground), with a choice/select spread of 34.98. Monday's projected cattle slaughter is 120,000. Pork cutouts at midday are 93.85, +2.69, with 220.32 total loads. Monday's projected hog slaughter is 486,000.

Posted 08:35 -- February live cattle are up $0.43 at $186.60, January feeder cattle are up $0.75 at $256.575, February lean hogs are up $0.35 at $87.675, March corn is up 1 1/4 cents per bushel and January soybean meal is up $4.80. The Dow Jones Industrial Average is up 56.36 points. All is quiet in cattle feeding country this morning as both packers and producers are busy preparing for the week ahead. Bids and asking prices have yet to be established and significant trade volume will likely be delayed until much later in the week. The CME Feeder Index for Dec. 5, 2024, was $1.36 higher at $261.83. The projected CME Lean Hog Index for Dec. 05, 2024, was down $0.20, at $83.73. The cash hog index and pork cuts could face more seasonal pressure ahead, and slaughter totals will likely continue to trend lower this week.

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