DTN's Quick Takes

By DTN Analysts

Grains

Posted 10:36 -- March corn is up 1/2 cent per bushel, March soybeans are down 2 1/4 cents per bushel. March KC wheat is down 2 1/2 cents per bushel, March Chicago wheat is down 4 1/2 cents per bushel and March Minneapolis wheat is down 3 3/4 cents. The Dow Jones Industrial Average is up 106.84 points at 42,635.20. The U.S. Dollar Index is up 0.120 at 109.21. February crude oil is up $0.90 per barrel at $74.22. Corn is little changed, soybeans, soymeal and wheat lower, while bean oil has been firm for much of the day and for the past 3 days. Weather is mixed with Brazil still nearly ideal in the center and north while drier in southern Brazil and much of Argentina. The CME will be closing one hour early on Thursday in honor of former President Carter. Export sales have been delayed until Friday morning, followed by the all-important January WASDE report.

Posted 08:39 -- March corn is up 3/4 cent per bushel, March soybeans are down 2 1/2 cents per bushel. March KC wheat is down 2 1/4 cents per bushel, March Chicago wheat is down 3 1/4 cents per bushel and March Minneapolis wheat is down 1 cent. The Dow Jones Industrial Average is up 106.84 points at 42,635.20. The U.S. Dollar Index is up 0.020 at 109.11. February crude oil is up $0.50 per barrel at $73.82. In quiet trade, soybeans and soymeal are weaker while corn and wheat are mixed to lower. Once again it is only bean oil starting higher. Thursday features an early close for the markets in honor of former President Carter's funeral services. Traders are awaiting Friday's data-heavy WASDE with production, Dec. 1 stocks and winter wheat seedings on the docket.

Livestock

OMAHA (DTN) -- February live cattle are up $3.80 at $197.5, March feeder cattle are up $3.88 at $268.85, February lean hogs are up $2.60 at $82.075, March corn is up 1 3/4 cents per bushel and March soybean meal is down $0.80. The Dow Jones Industrial Average is up 106.84 points. Bids of $200 live and $315 dressed have surfaced in Nebraska but still no trade has been confirmed. Asking prices are firm in the South at $200 live and $320 dressed.

Posted 08:40 -- February live cattle are up $1.55 at $195.25, March feeder cattle are up $1.63 at $266.6, February lean hogs are up $2.03 at $81.5, March corn is up 3/4 cent per bushel and March soybean meal is down $1.10. The Dow Jones Industrial Average is up 106.84 points. The cash cattle market is still silent with no bids having surfaced yet. Packer demand should improve throughout the day, but trade could still be delayed until Friday as feedlot managers are in no hurry to market their pens. Asking prices are noted at $200 in the South but asking prices are still not established in the North.

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