DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is down 4 3/4 cents per bushel, March soybeans are down 3 3/4 cents per bushel. March KC wheat is down 2 3/4 cents per bushel, March Chicago wheat is down 3/4 cent per bushel and March Minneapolis wheat is down 4 1/4 cents. The Dow Jones Industrial Average is up 71.18 points at 44,541.59. The U.S. Dollar Index is down 0.260 at 108.06. March crude oil is up $0.98 per barrel at $73.30. Just ahead of the close all, of the markets have retreated to trade lower, except for bean oil. The February WASDE was really a non-event, but Argentina's corn crop was thought to be less impacted by the dryness than traders were expecting and the weather ahead has turned more favorable. Hence, corn is leading the weakness. On the world front both corn and soy stocks fell more than expected but you can argue that the USDA is still too low on Brazilian soy production.

Posted 10:35 -- March corn is up 4 cents per bushel, March soybeans are up 5 3/4 cents per bushel. March KC wheat is up 4 cents per bushel, March Chicago wheat is up 7 1/4 cents per bushel and March Minneapolis wheat is up 3 1/2 cents. The Dow Jones Industrial Average is up 21.95 points at 44,492.36. The U.S. Dollar Index is down 0.290 at 108.03. March crude oil is up $0.86 per barrel at $73.18. At midmorning, grain and soy markets are stronger with the exception of soybean meal. We are less than 30 minutes from the release of the February WASDE report. Not expected to be a big mover, changes in South American production could change that.

Posted 08:35 -- March corn is up 1 1/4 cents per bushel, March soybeans are up 2 cents per bushel. March KC wheat is up 2 3/4 cents per bushel, March Chicago wheat is up 5 cents per bushel and March Minneapolis wheat is up 2 cents. The Dow Jones Industrial Average is down 117.11 points at 44,353.30. The U.S. Dollar Index is down 0.160 at 108.16. March crude oil is up $0.83 per barrel at $73.15. Grain and soy markets are firmer to start in anticipation of a slightly friendly February WASDE report. While we could see domestic corn demand raised, the focus will likely be on changes in South America and especially Argentina. Weather remains neutral to bearish in South America.

Livestock

Posted 11:40 -- April live cattle are down $2.10 at $196.025, March feeder cattle are down $3.30 at $264.825, April lean hogs are up $0.35 at $91.975, March corn is down 2 3/4 cents per bushel and March soybean meal is down $2.30. The Dow Jones Industrial Average is up 29.89 points. The cattle contracts are continuing to trade lower as the market is feeling pressured by external factors that seem to have consumed all trader attention. Still no cash cattle trade has developed but asking prices are noted in the South at $206 plus.

Posted 08:39 -- April live cattle are down $0.35 at $197.775, March feeder cattle are down $0.58 at $267.55, April lean hogs are up $0.63 at $92.25, March corn is up 1 1/2 cents per bushel and March soybean meal is up $1.60. The Dow Jones Industrial Average is down 110.25 points. Asking prices are noted in the South at $206 plus, but asking prices are still not established in the North. Please note that this morning, the monthly WASDE report is set to be released, which hopefully help market participants gain a better understanding of the demand outlook for 2025.

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