DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 6 1/2 cents per bushel, March soybeans are up 17 cents per bushel. March KC wheat is up 9 1/4 cents per bushel, March Chicago wheat is up 10 cents per bushel and March Minneapolis wheat is up 3 1/2 cents. The Dow Jones Industrial Average is up 56.18 points at 44,478.09. The U.S. Dollar Index is down 1.050 at 107.94. March crude oil is down $0.15 per barrel at $73.01. Ahead of Tuesday's close, grain and soy markets are maintaining solid gains while bean oil corrects to the downside. New-crop corn and soy futures are forging new recent highs. Soybean meal is making a big upside move on Tuesday. The dollar is sharply lower and that is positive for U.S. ag exports.

Posted 10:35 -- March corn is up 6 3/4 cents per bushel, March soybeans are up 11 3/4 cents per bushel. March KC wheat is up 2 cents per bushel, March Chicago wheat is up 4 3/4 cents per bushel and March Minneapolis wheat is down 2 1/4 cents. The Dow Jones Industrial Average is up 97.49 points at 44,519.40. The U.S. Dollar Index is down 0.950 at 108.04. March crude oil is down $0.31 per barrel at $72.85. All but Minneapolis wheat and soybean oil are higher at midmorning, with soybeans, soymeal and corn leading the way higher. New-crop corn and soybean futures have just made new recent highs. The U.S. dollar is breaking hard -- supportive for exports.

Posted 08:35 -- March corn is up 3 1/2 cents per bushel, March soybeans are down 3 1/2 cents per bushel. March KC wheat is down 2 3/4 cents per bushel, March Chicago wheat is down 3 3/4 cents per bushel and March Minneapolis wheat is down 5 cents. The Dow Jones Industrial Average is down 32.05 points at 44,389.86. The U.S. Dollar Index is down 0.610 at 108.38. March crude oil is down $2.16 per barrel at $71.00. USDA Says 132,000 mt (5.2 mb) of corn sold to South Korea for delivery in 2024-25. While corn and soymeal are moderately higher Tuesday, soybeans, bean oil and wheat markets are under pressure. Volatility will remain high based on the uncertainty of future tariff plans. President Trump is expected to converse with China's President Xi Jin Ping on Tuesday following their decision to impose a 10% to 15% tariff on the U.S.

Livestock

Posted 11:35 -- April live cattle are down $2.20 at $197.95, March feeder cattle are down $2.35 at $268.15, April lean hogs are up $3.03 at $89.375, March corn is up 7 3/4 cents per bushel and March soybean meal is up $9.30. The Dow Jones Industrial Average is up 17.12 points. Feeder country remains rather quiet at midday with just a few asking prices noted in the South at $208, but they are still not established in the North. Bids remain very elusive. Beef cutouts are higher at midday (choice 333.73 +1.74, select 320.75 +0.91) with light box movement (23 lds of choice cuts, 10 lds of select cuts, 0 lds of trim, and 07 lds of ground), with a choice/select spread of 12.98. Tuesday's projected cattle slaughter is 122,000. Pork cutouts at midday are 94.59, +0.78, with 175.54 total loads. Tuesday's projected hog slaughter is 486,000.

Posted 08:37 -- April live cattle are up $0.13 at $200.275, March feeder cattle are down $0.33 at $270.175, April lean hogs are up $0.38 at $86.725, March corn is up 3 cents per bushel and March soybean meal is up $2.80. The Dow Jones Industrial Average is down 50.92 points. Cash cattle country is quiet this morning with bids and asking prices not established, significant trade volume will probably be delayed until Wednesday or later. The CME Feeder Index for Jan. 31, 2025, was $0.61 higher at $281.68. The projected CME Lean Hog Index for Jan. 31, 2025, was up $0.29 at $83.77.

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