DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 2 1/2 cents per bushel, March soybeans are up 6 3/4 cents per bushel. March KC wheat is up 21 1/4 cents per bushel, March Chicago wheat is up 22 cents per bushel and March Minneapolis wheat is up 16 3/4 cents. The Dow Jones Industrial Average is down 84.84 points at 44,626.59. The U.S. Dollar Index is down 0.600 at 106.71. March crude oil is down $0.68 per barrel at $70.61. Just ahead of the Friday close both corn and soybeans have retreated from morning highs, while all three wheat markets are extending the rally with Chicago leading the way as short funds begin to cover some of their risk. Concerns from very cold below-zero readings all the way through next Friday could result in some wheat damage for those fields without cover. Funds have bought an estimated 7,000 contract of wheat as of noon. Weather in South America has taken a bearish turn for the next two weeks.

Posted 10:35 -- March corn is up 4 3/4 cents per bushel, March soybeans are up 12 1/2 cents per bushel. March KC wheat is up 18 1/4 cents per bushel, March Chicago wheat is up 19 3/4 cents per bushel and March Minneapolis wheat is up 13 3/4 cents. The Dow Jones Industrial Average is down 101.29 points at 44,610.14. The U.S. Dollar Index is down 0.640 at 106.68. March crude oil is down $0.49 per barrel at $70.80. At mid-morning, soybean oil has reversed early gains to trade lower, but corn, soybeans and wheat are maintaining early strength. Led by Chicago, all three wheat markets are flying higher on likely fund short covering tied to winterkill threats as sub-freezing temperatures are set to invade the Plains.

Posted 08:39 -- March corn is up 5 3/4 cents per bushel and March soybeans are up 11 1/2 cents per bushel. March KC wheat is up 17 cents per bushel, March Chicago wheat is up 18 cents per bushel and March Minneapolis wheat is up 14 1/4 cents. The Dow Jones Industrial Average is down 13.84 points at 44,697.59. The U.S. Dollar Index is down 0.600 at 106.71. March crude oil is up $0.29 per barrel at $71.58. USDA says 100,000 Tons (3.9 million bushels) Of Corn Sold To Colombia In 2024-25. Led by wheat, grain and soy markets are surging early Friday as another arctic cold plunge is slated to move into the southern Plains, again stoking winterkill concerns. The implication that the Trump administration reciprocal tariffs may not take effect until April leaves the door open for negotiation and is deemed positive for ag futures is driving markets despite bearish South American weather.

Livestock

Posted 11:35 -- April live cattle are down $1.03 at $195.5, March feeder cattle are down $0.95 at $267.025, April lean hogs are up $0.18 at $93.275, March corn is up 2 3/4 cents per bushel and March soybean meal is up $4.70. The Dow Jones Industrial Average is down 103.33 points. A few more sales have been noted in Nebraska at $203 and some more trade will likely develop later this afternoon as the week's volume has been rather thin. Asking prices are around $304-plus in the South and $325-plus in the North.

Posted 08:35 -- April live cattle are down $0.33 at $196.2, March feeder cattle are up $0.53 at $268.5, April lean hogs are up $1.03 at $94.125, March corn is up 6 cents per bushel and March soybean meal is up $3.30. The Dow Jones Industrial Average is down 54.33 points. The cash cattle market doesn't have any bids renewed at this point in time, but more trade needs to develop ahead of the week's end. Some light sales have been reported in the South at $202 to $203 ($3.00 to $4.00 lower) and in the North at $320 to $322 ($5.00 to $7.00 lower).

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