DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:45 -- March corn is down 2 1/2 cents per bushel, January soybeans are down 13 1/4 cents, March KC wheat is down 3 1/2 cents, March Chicago wheat is down 5 1/4 cents and MIAX March Minneapolis wheat is up 0.0025 cents. The Dow Jones Industrial Average is up 166.61 points. The U.S. Dollar Index is up 0.010 and January crude oil is up $0.47 per barrel. February gold is down $0.70 per ounce. All of the grain and soy markets have weakened, led by soybeans and soymeal. Despite finally seeing a new sale to China of 17 mb early Friday, totals to date, including the flash sales that we are aware of, China has bought less than 3.5 mmt. A confusing statement from a U.S. trade representative that we don't yet have a signed soybean deal with China sent the market reeling. At this point, a close below $11.10 on Jan. beans would be considered bearish.

Posted 10:27 -- March corn is down 1 3/4 cents per bushel, January soybeans are down 7 1/4 cents, March KC wheat is down 2 1/2 cents, March Chicago wheat is down 5 cents and MIAX March Minneapolis wheat is up 0.0075 cents. The Dow Jones Industrial Average is up 137.87 points. The U.S. Dollar Index is up 0.090 and January crude oil is up $0.49 per barrel. February gold is up $4.20 per ounce. At midmorning, markets have weakened since the opening with soybeans and Chicago wheat leading the way. January beans again have paused right at a key support area with a close below $11.10 likely a bearish signal. Wheat markets continue to get bombarded with increasing world supply news.

Posted 08:30 -- March corn is down 1/2 cent per bushel, January soybeans are down 1 1/4 cents, March KC wheat is up 1 cent, March Chicago wheat is up 1/2 cent and MIAX March Minneapolis wheat is up 0.0150 cents. The Dow Jones Industrial Average is up 69.76 points. The U.S. Dollar Index is down 0.010 and January crude oil is up $0.07 per barrel. February gold is up $16.80 per ounce. It was worth the wait -- finally USDA announced private exporters reported sales of 462,000 mt (17 mb) of soybeans to China for 2025-26 after four days without a sale. Traders finally got a bit of good news with China buying and an 8.5 mb sale showing up in the delayed report for Oct. 30. Let's hope it's a pattern that continues. Grain and soy markets are quietly mixed early Friday.

Livestock

Posted 11:33 -- February live cattle are up $0.58 at $224.575, January feeder cattle are up $0.88 at $337.45, February lean hogs are up $0.85 at $82.7, March corn is down 1 3/4 cents per bushel and January soybean meal is down $2.20. The Dow Jones Industrial Average is up 66.18 points and NASDAQ is up 33.41 points. The fed cash cattle market hasn't seen any changes following Thursday's trade where Northern dressed cattle traded at $340 to $345, which is $11.00 to $16.00 higher. The South hasn't traded any cattle yet, but packer interest should improve any minute now. Asking prices for cattle left to trade in the North are at $346-plus and in the South at $225-plus.

Posted 08:35 -- February live cattle are up $2.08 at $226.075, January feeder cattle are up $2.08 at $338.65, February lean hogs are up $0.48 at $82.325, March corn is steady and January soybean meal is steady. The Dow Jones Industrial Average is up 86.95 points and NASDAQ is up 108.47 points. The board is trading higher into Friday's start as traders are pleased with the wild rally currently taking place in the fed cash cattle market. Dressed deals had a range of $340 to $345, $11 to $16 higher than the prior week's weighted averages, but the South remained at a standstill. Asking prices in the South are set at $225 plus and in the North at $346 plus.

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