DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is down 8 1/4 cents per bushel, March soybeans are down 11 3/4 cents per bushel. March KC wheat is down 5 1/4 cents per bushel, March Chicago wheat is down 6 1/4 cents per bushel and March Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average is down 340.78 points at 44,406.85. The U.S. Dollar Index is up 0.430 at 108.12. March crude oil is up $0.41 per barrel at $71.02. At midday, grain and soy markets are under heavy pressure except for soybean oil. Rumors are that the Trump administration may implement more tariffs on other nations who have tariffs on our goods next week, but we are looking for confirmation. Also, weather has taken a slightly more favorable turn in South America and that is weighing on markets. Corn is setting up for a potentially bearish chart signal by Friday's close with funds long a near record position.

Posted 10:35 -- March corn is down 8 1/2 cents per bushel, March soybeans are down 11 cents, March KC wheat is down 4 cents, March Chicago wheat is down 3 3/4 cents and March Minneapolis wheat is down 2 1/4 cents. The Dow Jones Industrial Average is down 287.92 points. The U.S. Dollar Index is up 0.350 and March crude oil is up $0.21 per barrel. April gold is up $17.60 per ounce. April gold is up $18.70 per ounce. Corn and soybean markets are reacting to the rains in Argentina, but hot and dry weather is expected to return over the weekend. Wheat markets are seeing profit-taking after the recent rallies but weather in the Southern Plains and Russia and the rest of the world will be a factor going forward. Oil futures saw support early Friday from the new sanctions the U.S. Department of the Treasury imposed on Iranian oil trade.

Posted 08:35 -- March corn is down 4 3/4 cents per bushel, March soybeans are down 8 3/4 cents per bushel. March KC wheat is down 3 1/4 cents per bushel, March Chicago wheat is down 6 3/4 cents per bushel and March Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average is up 33.17 points at 44,780.80. The U.S. Dollar Index is up 0.020 at 107.71. March crude oil is up $0.73 per barrel at $71.34. Grain and soy markets are accelerating losses early Friday with the exception of soybean oil, which is moderately higher. South American weather is generally regarded as more favorable with rain in Argentina and a somewhat drier forecast in Brazil harvest areas. Wheat markets are taking a breather from the three consecutive higher finishes.

Livestock

Posted 11:35 -- (DTN) -- April live cattle are down $0.13 at $196.65, March feeder cattle are up $0.03 at $265.325, April lean hogs are up $0.53 at $92.275, March corn is down 8 1/4 cents per bushel and March soybean meal is down $5.30. The Dow Jones Industrial Average is down 327.30 points. With no new cash cattle trade developed yet Friday, it's likely the bulk of this week's business is done. So far this week Southern live cattle have traded for $206, which is $2.00 lower than last week's weighted average, and Northern dressed cattle have traded at mostly $328, which is $1.00 lower than last week's weighted average.

Posted 08:41 -- April live cattle are up $0.45 at $197.225, March feeder cattle are up $0.38 at $265.675, April lean hogs are down $0.08 at $91.675, March corn is down 4 3/4 cents per bushel and March soybean meal is down $3.80. The Dow Jones Industrial Average is down 39.41 points. The cattle contracts are finding a little more support this morning following Thursday's sharply lower close. No new bids have surfaced in the cash cattle market and it's looking like the bulk of this week's trade is done.

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