DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 3 cents per bushel, March soybeans are up 11 cents, March KC wheat is up 10 1/4 cents, March Chicago wheat is up 8 cents and MIAX March Minneapolis wheat is up 0.0525 cents. The Dow Jones Industrial Average is down 275.25 points. The U.S. Dollar Index is up 0.060 and February crude oil is down $1.17 per barrel. February gold is down $31.60 per ounce. Heading into the Wednesday close, there is little news to give a good reason for today's soybean strength and S&P Global jacked up their Brazil crop estimate to a record and monstrous 184 mmt (6.76 billion bushels). That is far higher than anything we have seen. There is talk that China may have picked up another small parcel of U.S. beans. Wheat is likely firm on the expanding dryness and record heat in the Plains.

Posted 10:29 -- March corn is up 1 1/2 cents per bushel, March soybeans are up 10 1/2 cents, March KC wheat is up 7 cents, March Chicago wheat is up 7 1/2 cents and MIAX March Minneapolis wheat is up 0.0475 cents. The Dow Jones Industrial Average is down 161.24 points. The U.S. Dollar Index is up 0.070 and February crude oil is down $0.63 per barrel. February gold is down $29.30 per ounce. At midmorning, soybeans, soymeal and wheat are all very firm still, while corn is up a penny. There is very little fresh news and I suspect that we are seeing more short covering ahead of next Monday's January USDA report.

Posted 08:34 -- March corn is up 2 cents per bushel, March soybeans are up 12 1/2 cents, March KC wheat is up 8 3/4 cents, March Chicago wheat is up 7 3/4 cents and MIAX March Minneapolis wheat is up 0.0450 cents. The Dow Jones Industrial Average is up 17.98 points. The U.S. Dollar Index is down 0.010 and February crude oil is down $0.47 per barrel. February gold is down $38.10 per ounce. Grain and soy markets are trading higher led by soybeans and wheat with KC wheat headed toward a fourth consecutive higher finish. Surprisingly there were no new announcements of sales to China.

Livestock

Posted 11:40 -- February live cattle are down $2.23 at $234.4, March feeder cattle are down $3.90 at $355.125, February lean hogs are down $0.75 at $84.925, March corn is up 2 3/4 cents per bushel and March soybean meal is up $5.90. The Dow Jones Industrial Average is down 113.15 points and NASDAQ is up 163.04 points. The livestock complex is trading mostly lower into Wednesday's noon hour as traders yearn to see more fundamental support develop before they push the contracts any higher. A single bid is currently on the table in Kansas, but still no cattle have traded.

Posted 08:41 -- February live cattle are down $1.95 at $234.675, March feeder cattle are down $2.63 at $356.4, February lean hogs are down $0.43 at $85.25, March corn is up 1 1/2 cents per bushel and March soybean meal is up $2.90. The Dow Jones Industrial Average is up 77.14 points and NASDAQ is up 1.77 points. Without any substantial fundamental support having developed yet, cattle contracts are trading lower. Still no bids or asking prices are present in the cash cattle market yet and trade will likely be delayed until Thursday if not Friday.

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