DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- March corn is up 6 1/4 cents per bushel, March soybeans are up 1 1/2 cents per bushel. March KC wheat is up 9 1/2 cents per bushel, March Chicago wheat is up 12 1/2 cents per bushel and March Minneapolis wheat is up 13 cents. The Dow Jones Industrial Average is up 131.04 points at 44,844.62. The U.S. Dollar Index is up 0.620 at 107.96. March crude oil is up $0.29 per barrel at $73.46. At midday soybeans and products have moved modestly higher while both wheat and corn markets are extending solid gains. Minneapolis wheat is leading the way higher. Each of the wheat markets have rallied back above the 50-day moving average and each could have a bullish engulfing line chart pattern by day's end. The midday weather forecast seems to be a bit drier for Argentina, supporting corn and soybeans.
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Posted 08:35 -- March corn is up 5 cents per bushel, March soybeans are down 1 cent per bushel. March KC wheat is up 7 1/2 cents per bushel, March Chicago wheat is up 10 1/2 cents per bushel and March Minneapolis wheat is up 8 1/4 cents. The Dow Jones Industrial Average is up 15.61 points at 44,729.19. The U.S. Dollar Index is up 0.630 at 107.98. March crude oil is up $0.04 per barrel at $73.21. Corn and wheat markets remain firm at mid-morning while soybeans and products flounder around the unchanged level. There is a lack of fresh news early Wednesday, with South American weather neutral to mostly bullish.
Posted 08:35 -- March corn is up 4 1/4 cents per bushel, March soybeans are up 5 1/4 cents per bushel. March KC wheat is up 3 1/4 cents per bushel, March Chicago wheat is up 5 1/2 cents per bushel and March Minneapolis wheat is up 4 3/4 cents. The Dow Jones Industrial Average is up 29.47 points at 44,743.05. The U.S. Dollar Index is up 0.510 at 107.85. March crude oil is up $0.62 per barrel at $73.79. USDA: Private exporters reported sales of 132,000 metric tons (5.2 million bushels) of corn for delivery to South Korea during the 2024/2025 marketing year. Grain and soy markets are slightly firmer in quiet trade early Tuesday except for soymeal. Outside financial markets have calmed down after Monday's rout of tech stocks.
Livestock
Posted 11:35 -- April live cattle are up $3.33 at $207.15, March feeder cattle are up $2.38 at $277.625, April lean hogs are up $1.05 at $90.925, March corn is up 5 1/2 cents per bushel and March soybean meal is up $0.30. The Dow Jones Industrial Average is up 122.51 points. Asking prices are now noted in the South at $208 to $210 but are still not established in the North. Trade will likely be delayed until sometime after Wednesday.
Posted 08:37 -- April live cattle are up $1.03 at $204.85, March feeder cattle are up $1.40 at $276.65, April lean hogs are up $0.75 at $90.625, March corn is up 3 3/4 cents per bushel and March soybean meal is down $0.40. The Dow Jones Industrial Average is up 20.32 points. The livestock complex is again rallying in early action as traders continue to believe strong fundamentals will prevail this week. Bids and asking prices continue to remain elusive in the cash market.
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