DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is down 4 1/4 cents and January soybeans are down 6 3/4 cents. March KC wheat is down 8 1/4 cents, March Chicago wheat is down 5 3/4 cents, and March MIAX Minneapolis wheat is down 2 1/4 cents. February crude oil is up $1.47 and Dow Jones futures are down 54 points. The U.S. Dollar Index is down 0.06 and February gold is down $151.50. Early Monday, row-crop futures are lower as corn and wheat markets reverse off technical pressure after moving above key resistance late last week. Meanwhile, bearish traders remain in control of momentum in the soybean market. USDA led the sessions with an announced 100,000 metric ton sale of soybeans to Egypt, but nothing to China, which may frustrate traders to start the week.

Posted 19:11 Sunday -- March corn is up 3/4 cents and January soybeans are up 1/4 cents. March KC wheat is down 1 1/2 cents, March Chicago wheat is up 1/4 cents, and March MIAX Minneapolis wheat is unchanged. February crude oil is up $0.40 and Dow Jones futures are up 53 points. The U.S. Dollar Index is down 0.05 and February gold is down $35.50. To start the week, row crop prices are mixed to fractionally higher. Futures will attempt to build bullish momentum after positive price moves for corn, soybeans and wheat during the Christmas week, and it will be interesting if the rallies through last week are sustained with some volume likely returning to the trade through the New Year. Along those lines, volume could remain low at points this week with another closed session on Thursday.

Livestock

Posted 08:39 -- February live cattle are down $0.60 at $229.05, March feeder cattle are down $0.98 at $339.45, February lean hogs are up $0.38 at $84.9, March corn is down 3 1/4 cents per bushel and March soybean meal is down $2.60. The Dow Jones Industrial Average is down 24.35 points and NASDAQ is down 174.74 points. Starting off the new week, the livestock complex is again trading mixed as the cattle contracts trade slightly lower, but the lean hog complex is trading higher. There wasn't much trade seen last week in the fed cash cattle market so it will be interesting to see if packers are more aggressive this week if they believe they still have enough supply.

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