DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- March corn is up 3 1/2 cents per bushel, March soybeans are down 1 1/2 cents per bushel. March KC wheat is down 7 3/4 cents per bushel, March Chicago wheat is down 5 cents per bushel and March Minneapolis wheat is down 3 1/4 cents. The Dow Jones Industrial Average is up 139.30 points at 44,442.70. The U.S. Dollar Index is up 0.270 at 108.31. March crude oil is up $1.20 per barrel at $72.20. At midday, corn continues to be firm, spurred on by the new sale of 14.3 mb to Mexico. Soybeans, soy products and all three wheat markets are under pressure on slowing demand and a sliding basis. The focus on Tuesday's February WASDE is likely to be on changes in South American crop production, especially Argentina. A drier two-week forecast for northern Brazil should allow soy harvest to pick up.
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Posted 10:35 -- March corn is up 3 1/4 cents per bushel, March soybeans are down 1 cent per bushel. March KC wheat is down 6 1/4 cents per bushel, March Chicago wheat is down 5 1/2 cents per bushel and March Minneapolis wheat is down 1 1/2 cents. The Dow Jones Industrial Average is up 48.09 points at 44,351.49. The U.S. Dollar Index is up 0.200 at 108.24. March crude oil is up $1.29 per barrel at $72.29. At midmorning corn has firmed, soybeans are little changed in dull trade and wheat has given up early gains to trade lower in each of the three futures markets. Despite the concern over tariffs, Mexico bought 14.2 mb of corn for 2024-25 earlier Monday.
Posted 08:35 -- March corn is up 1/2 cent per bushel, March soybeans are down 2 1/2 cents per bushel. March KC wheat is up 1/2 cent per bushel, March Chicago wheat is up 1/4 cent per bushel and March Minneapolis wheat is up 1 1/2 cents. The Dow Jones Industrial Average is up 257.07 points at 44,560.47. The U.S. Dollar Index is up 0.250 at 108.29. March crude oil is up $1.03 per barrel at $72.03. USDA reported private exporters said 365,000 mt of corn (14.3 mb) were received in the reporting period for delivery to Mexico during the 2024-25 marketing year. Grain and soy markets are mixed and little changed ahead of Tuesday's February WASDE. Bearish is a more favorable South American weather outlook and the impending tariffs.
Posted 19:09 Sunday -- March corn is down 4 1/4 cents, and March soybeans are down 1 3/4 cents. March KC wheat is down 5 cents, and March Minneapolis wheat is down 4 1/4 cents. March crude oil is up $0.35, and Dow Jones futures are up 94 points. The U.S. Dollar Index is up 0.27, and April gold is up $6.90. Grain markets are lower on the open. President Donald Trump confirmed Sunday that he will implement a tariff on all steel and aluminum products imported to the U.S. and confirmed reciprocal tariffs are in discussion to be announced later in the week as well. While not in and of itself bearish to U.S. grain markets, general trade nervousness causes a visceral reaction in grain markets. Traders will attempt to reconcile trade concerns with positioning for a WASDE report on Tuesday, which is expected to maintain at least a somewhat supportive fundamental picture for corn, while soybeans and wheat may be more neutral in nature with the former certainly more focused at this point on South American weather and production.
LivestockPosted 11:35 -- April live cattle are up $1.28 at $198.05, March feeder cattle are up $2.23 at $267.125, April lean hogs are down $0.13 at $92.025, March corn is up 3 1/2 cents per bushel and March soybean meal is down $0.90. The Dow Jones Industrial Average is up 62.96 points. Last week's negotiated cash cattle trade totaled 72,948 head. Of that 79% (57,574 head) were committed to the nearby delivery, while the remaining 21% (15,374 head) were committed to the deferred delivery. New showlists appear to be higher in all major feeding areas this week.
Posted 08:39 -- April live cattle are down $0.25 at $196.525, March feeder cattle are down $0.15 at $264.75, April lean hogs are down $0.35 at $91.8, March corn is up 3/4 cent per bushel and March soybean meal is down $0.10. The Dow Jones Industrial Average is up 288.57 points. The livestock complex is mostly lower Monday morning as last week's burdensome downward trend continues. It will be imperative to see how many cattle were purchased last week in the negotiated cash cattle trade as that will indicate how aggressive packers will be in this week's market.
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