DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 6 1/4 cents per bushel, March soybeans are up 4 cents per bushel. March KC wheat is up 8 1/4 cents per bushel, March Chicago wheat is up 7 1/2 cents per bushel and March Minneapolis wheat is up 9 cents. The Dow Jones Industrial Average is down 98.70 points at 44,447.38. The U.S. Dollar Index is up 0.530 at 107.11. March crude oil is up $1.10 per barrel at $71.84. Just ahead of the close, corn and wheat are leading the markets higher. March corn broke through the $5.00 psychological barrier and now is poised to challenge the $5.08 1/4 May high. Wheat is surging again on cold weather and winterkill concerns with lows of well below zero through at least Thursday in the Plains. The January NOPA crush, at 200.4 mb was record large for the month, but below December's 206.6 mb record crush.

Posted 10:35 -- March corn is up 5 1/4 cents per bushel, March soybeans are up 3 cents per bushel. March KC wheat is up 7 cents per bushel, March Chicago wheat is up 7 cents per bushel and March Minneapolis wheat is up 8 cents. The Dow Jones Industrial Average is down 83.99 points at 44,462.09. The U.S. Dollar Index is up 0.360 at 106.93. March crude oil is up $0.85 per barrel at $71.59. At mid-morning, March corn has rallied above the $5.00 area with sights set on the May high at $5.08 1/4. Soybeans, soy products and wheat are higher. Some extreme cold is occurring in Plains winter wheat areas and any area without snow cover are susceptible to winterkill for a second time in the past 3 weeks.

Posted 08:36 -- March corn is up 4 1/4 cents per bushel, March soybeans are up 2 3/4 cents per bushel. March KC wheat is down 1 1/2 cents per bushel, March Chicago wheat is up 2 1/2 cents per bushel and March Minneapolis wheat is up 1 cent. The Dow Jones Industrial Average is down 113.42 points at 44,432.66. The U.S. Dollar Index is up 0.450 at 107.03. March crude oil is up $0.68 per barrel at $71.42. Corn and soybeans are firmer while wheat is mixed in quiet trade to begin the new week. March corn will again test the $5.00 level with a close above that likely leading to a test of $5.08. Weather is neutral for corn and beans in South America and bullish for U.S. wheat as sub-zero temperatures cover much of the Plains wheat crop.

Posted 19:11 Sunday -- March corn is down 2 cents and March soybeans are down 5 3/4 cents. March KC wheat is down 2 3/4 cents, March Chicago wheat is down 3 1/4 cents, and March Minneapolis wheat is down 2 3/4 cents. March crude oil is up $0.56 and Dow Jones futures are up 63 points. The U.S. Dollar Index is up 0.26 and April gold is up $10.60. Grain markets are lower to start the week following the Presidents Day pause on Monday. Wheat markets were the leader higher to close last week as much of the Midwest winter wheat growing areas brace for extreme cold over the next few days. Corn futures will open the week in familiar territory in the mid-$4.90s on the March board but so far unable to push into $5.00 territory, meanwhile soybean futures will continue to focus in on South American weather and what is still estimated to be a record crop being harvested currently in Brazil.

Livestock

Posted 11:35 -- April live cattle are down $0.55 at $193.7, March feeder cattle are up $2.85 at $269.2, April lean hogs are up $1.15 at $93.75, March corn is up 6 1/4 cents per bushel and March soybean meal is down $0.60. The Dow Jones Industrial Average is down 60.91 points. With the feeder cattle complex continuing to grind higher all while the nearby live cattle contracts trade lower, cattlemen are hopeful the live cattle complex will catch on and also trade fully higher. At this point in time no cash cattle trade has developed.

Posted 08:36 -- April live cattle are up $0.03 at $194.275, March feeder cattle are up $1.15 at $267.5, April lean hogs are up $1.03 at $93.625, March corn is up 4 1/4 cents per bushel and March soybean meal is up $1.20. The Dow Jones Industrial Average is down 68.14 points. The livestock complex is trading mixed following the long weekend. No bids or asking prices are noted yet in the cash market and trade isn't expected to develop until Wednesday or later.

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