DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 2 1/4 cents per bushel, March soybeans are up 1 1/2 cents per bushel. March KC wheat is up 15 1/4 cents per bushel, March Chicago wheat is up 15 3/4 cents per bushel and March Minneapolis wheat is up 10 1/4 cents. The Dow Jones Industrial Average is down 160.06 points at 44,713.22. The U.S. Dollar Index is up 0.050 at 107.63. March crude oil is down $0.53 per barrel at $70.50. Just ahead of the Thursday close, wheat is leading the way higher with sharp gains, while corn, soybeans and soybean oil are just modestly higher in quiet trade. Undoubtedly, funds are covering some of their large wheat short position. Weather in South America has turned more favorable for corn and beans. Wheat is reacting to abnormal dryness in the Southern Plains and another cold spell coming next week.

Posted 10:35 -- March corn is up 1 3/4 cents per bushel, March soybeans are up 1/2 cent per bushel. March KC wheat is up 12 3/4 cents per bushel, March Chicago wheat is up 13 3/4 cents per bushel and March Minneapolis wheat is up 10 cents. The Dow Jones Industrial Average is down 138.49 points at 44,734.79. The U.S. Dollar Index is up 0.230 at 107.81. March crude oil is up $0.21 per barrel at $71.24. At mid-morning wheat markets are rallying hard, while corn and soybeans have recovered from early losses to trade higher again. Soybeans and soymeal are still trading mixed to lower in quiet trade.

Posted 08:38 -- March corn is down 1 3/4 cents per bushel, March soybeans are up 1 1/4 cents per bushel. March KC wheat is up 1 3/4 cents per bushel, March Chicago wheat is up 1 1/2 cents per bushel and March Minneapolis wheat is up 1/2 cent. The Dow Jones Industrial Average is up 63.48 points at 44,936.76. The U.S. Dollar Index is up 0.350 at 107.93. March crude oil is up $0.49 per barrel at $71.52. Corn and bean oil are slightly lower, while wheat, soybeans and meal are just slightly higher in quiet trade. Weather has turned more favorable for South America and there is little other fresh news to drive markets.

Livestock

Posted 11:36 -- April live cattle are down $4.38 at $196.925, March feeder cattle are down $6.00 at $264.725, April lean hogs are up $0.05 at $91.6, March corn is up 1 1/4 cents per bushel and March soybean meal is down $3.20. The Dow Jones Industrial Average is down 138.31 points. A light trade is being reported in parts of the South at $206, roughly $2 lower than the prior week's weighted averages. Northern dressed deals are fully steady with Wednesday's business at $238 ($1 lower than the previous week's weighted average basis Nebraska). Beef cutouts are higher at midday (choice 323.45 -1.89, select 314.64 +0.31) with light to moderate box movement (47 lds of choice cuts, 20 lds of select cuts, 09 lds of trim, and 06 lds of ground), with a choice/select spread of 8.81. Thursday's projected cattle slaughter is 119,000. Pork cutouts at midday are 95.08, +1.25, with 145.23 total loads. Thursday's project hog slaughter is 481,000.

Posted 08:40 -- April live cattle are down $0.85 at $200.45, March feeder cattle are down $0.88 at $269.85, April lean hogs are up $0.23 at $91.775, March corn is down 1 3/4 cents per bushel and March soybean meal is down $0.30. The Dow Jones Industrial Average is up 64.89 points. Cash cattle country is quiet this morning, following a light scattered trade Wednesday, mostly in Nebraska at $238, $1 lower than last week's weighted average. In Kansas a few live deals were reported at mostly $205, roughly $3 lower than the prior week's weighted average. Export sales for the period of Jan. 24, 2025, to Jan. 30, 2025, beef net sales of 24,900 MT for 2025 primarily for South Korea (3,900 MT), Japan (3,300 MT), China (2,500 MT), the Dominican Republic (1,800 MT). Exports of 19,800 MT were primarily to South Korea (5,700 MT), Japan (5,000 MT), China (3,700 MT). The CME Feeder Index for Feb. 4 was $0.42 lower at $279.03. The projected CME Lean Hog Index for Feb. 4, was up $0.52 at $84.60.

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