DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- Posted 12:52 -- March corn is up 5 cents per bushel, January soybeans are down 7 1/2 cents, March KC wheat is steady, March Chicago wheat is down 1/4 cent and MIAX March Minneapolis wheat is up 0.0300 cents. The Dow Jones Industrial Average is down 112.33 points. The U.S. Dollar Index is up 0.180 and January crude oil is down $0.70 per barrel. February gold is up $17.50 per ounce. Heading into the Tuesday close, except for corn, the December WASDE report turned out to be a dud. Corn export sales were increased by a more-than-expected 125 mb to a record large 3.2 billion bushels. The wheat and soy balance sheets in the U.S. were left untouched and that seems strange for beans with the tepid pace of China purchases. In wheat, major exporter supplies rose by close to 9 mmt, but that was pretty much in the market.
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Posted 10:31 -- March corn is up 1 cent per bushel, January soybeans are down 5 1/4 cents, March KC wheat is down 1 cent, March Chicago wheat is down 2 3/4 cents and MIAX March Minneapolis wheat is up 0.0300 cents. The Dow Jones Industrial Average is up 146.10 points. The U.S. Dollar Index is up 0.060 and January crude oil is down $0.60 per barrel. February gold is up $26.50 per ounce. A half hour ahead of the December WASDE report, soybeans and soymeal continue to be under pressure while wheat is mixed to mostly lower and corn is sticking close to unchanged. No production changes are expected, but revisions in U.S. exports and changes in competing country supplies should be the focus.
Posted 08:32 -- March corn is up 2 cents per bushel, January soybeans are down 2 1/4 cents, March KC wheat is up 1 3/4 cents, March Chicago wheat is down 1/4 cent and MIAX March Minneapolis wheat is up 0.0225 cents. The Dow Jones Industrial Average is up 101.92 points. The U.S. Dollar Index is up 0.060 and January crude oil is down $0.12 per barrel. February gold is up $10.00 per ounce. Soybeans and soymeal weaker again, while wheat is mixed and corn modestly firmer ahead of the December WASDE report. Traders are awaiting the report with ideas both corn and wheat exports might be raised and fears soy exports might fall.
LivestockPosted 11:39 -- February live cattle are up $0.28 at $226.95, January feeder cattle are down $0.13 at $335.525, February lean hogs are down $0.40 at $82., March corn is up 4 1/2 cents per bushel and January soybean meal is down $4.10. The Dow Jones Industrial Average is down 7.53 points and NASDAQ is up 42.66 points. Traders continue to trade the livestock contracts mostly lower as the market's resistance pressure is simply too much for the contracts to bear at this point. Still no cash cattle trade has developed and both bids and asking prices remain elusive at this point.
Posted 08:38 -- February live cattle are up $0.63 at $227.3, January feeder cattle are up $1.25 at $336.9, February lean hogs are down $0.53 at $81.875, March corn is up 2 cents per bushel and January soybean meal is down $2.60. The Dow Jones Industrial Average is up 126.92 points and NASDAQ is down 64.36 points. Following Monday's slightly weaker close, the cattle contracts are back to trading higher as the market hopes again today that fundamental support will arise and show traders that they could potentially challenge the market's resistance. Do note that this morning the monthly WASDE report will be released.
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