DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- March corn is down 4 cents per bushel, March soybeans are down 22 cents per bushel. March KC wheat is down 10 1/2 cents per bushel, March Chicago wheat is down 8 3/4 cents per bushel and March Minneapolis wheat is down 6 1/4 cents. The Dow Jones Industrial Average is down 116.23 points at 43,105.32. The U.S. Dollar Index is down 0.090 at 109.01. February crude oil is down $1.49 per barrel at $78.55. With 30 minutes to go until the close, there seems to be no backing off from the soy complex selling. A short-term wetter pattern in Argentina though the weekend is leading to some profit-taking, especially in soybean oil, which is coming off 8 consecutive higher closes. Solid bullish fundamentals and another good week of sales in soybean oil, but the market had become overdone to the upside. Corn and wheat markets also remain under pressure with last week's winter wheat export sales being disappointing.
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Posted 10:35 -- March corn is down 4 1/4 cents per bushel, March soybeans are down 20 1/2 cents per bushel. March KC wheat is down 8 1/2 cents per bushel, March Chicago wheat is down 6 cents per bushel and March Minneapolis wheat is down 5 1/4 cents. The Dow Jones Industrial Average is down 13.44 points at 43,208.11. The U.S. Dollar Index is down 0.200 at 108.89. February crude oil is down $2.08 per barrel at $77.96. At midmorning, soybean and soy product losses are accelerating, fueled by the short-term wetter forecast for Argentina and southern Brazil. Corn and wheat are also down on favorable weather in the case of corn and the falling EU wheat market. Soybean oil is being pressured by the lower palm oil and crude oil market, threatening an 8-day winning streak.
Posted 08:35 -- March corn is down 3 1/2 cents per bushel, March soybeans are down 13 1/2 cents per bushel. March KC wheat is down 8 3/4 cents per bushel, March Chicago wheat is down 7 cents per bushel and March Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average is down 12.72 points at 43,208.83. The U.S. Dollar Index is up 0.210 at 109.30. February crude oil is down $0.39 per barrel at $79.65. USDA reported private export sales of 132,000 mt of soybeans (4.85 mb) to China and 135,000 mt of corn (5.3 mb) to Taiwan; all for delivery during the 2024-025 marketing year. Grain and soy markets are under heavy pressure early Thursday as some rain relief is expected to fall in dry South American corn and soy fields.
Livestock
Posted 11:35 -- February live cattle are down $2.30 at $196.225, March feeder cattle are down $2.98 at $266.825, February lean hogs are down $0.98 at $82.15, March corn is down 3 1/2 cents per bushel and March soybean meal is down $8.40. The Dow Jones Industrial Average is down 1.08 points. The cash cattle market has seen some dressed trade develop at $322, which is $2.00 higher than last week's weighted average. A few more live deals have been marked at $201, which is steady to $1.00 higher than last week's weighted average.
Posted 08:33 -- February live cattle are down $0.30 at $198.225, March feeder cattle are down $0.15 at $269.65, February lean hogs are down $0.10 at $83.025, March corn is down 3 1/4 cents per bushel and March soybean meal is down $6.30. The Dow Jones Industrial Average is down 24.96 points. Beef net sales of 9,700 mt for 2025 were primarily for Japan (3,600 mt), China (3,500 mt) and South Korea. Pork net sales of 30,300 mt for 2025 were primarily for Mexico (11,700 mt), South Korea (5,000 mt) and South Korea (5,000 mt).
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