DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- March corn is down 2 1/2 cents per bushel, March soybeans are down 6 1/4 cents, March KC wheat is down 9 1/2 cents, March Chicago wheat is down 7 1/4 cents and MIAX March Minneapolis wheat is down 4 3/4 cents. The Dow Jones Industrial Average is up 281.98 points. The U.S. Dollar Index is down 0.590 and March crude oil is down $0.40 per barrel. February gold is up $94.10 per ounce. Heading for the Monday close, wheat, soybeans and soymeal are under heavy selling pressure while corn and bean oil are modestly lower. Better rain chances for both Argentina and southern Brazil are given credit for Monday's weakness as well as the moderation in U.S. weather in the coming week. Yields for the early soy harvest in Mato Grosso, now 14% complete, are reported to be impressive.

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Posted 10:33 -- March corn is down 2 cents per bushel, March soybeans are down 6 cents, March KC wheat is down 9 cents, March Chicago wheat is down 7 3/4 cents and MIAX March Minneapolis wheat is down 1/2 cent. The Dow Jones Industrial Average is up 168.33 points. The U.S. Dollar Index is down 0.620 and March crude oil is down $0.54 per barrel. February gold is up $94.40 per ounce. At midmorning, corn, wheat, soybeans and products have accelerated losses. It appears that the forecast has turned wetter for Argentina and a bit drier in northern Brazil where harvesting of soybeans is under way.

Posted 08:34 -- March corn is down 2 1/4 cents per bushel, March soybeans are down 1 1/4 cents, March KC wheat is down 3 cents, March Chicago wheat is down 3/4 cent and MIAX March Minneapolis wheat is down 1/4 cent. The Dow Jones Industrial Average is up 168.70 points. The U.S. Dollar Index is down 0.520 and March crude oil is down $0.48 per barrel. February gold is up $94.60 per ounce. Corn, wheat and soybeans are mixed to mostly lower to start the new week. Bean oil is bucking the trend early with solid gains.

Posted 19:07 Sunday -- March corn is up 1/4 cents and March soybeans are up 3 1/2 cents. March KC wheat is up 1/2 cents, March Chicago wheat is up 1 cent and March MIAX Minneapolis wheat is unchanged. March crude oil is up $0.01 and Dow Jones futures are down 83 points. The U.S. Dollar Index is down 0.45 and February gold is up $59.10. Row crop futures are mostly positive to begin the new trading week after a strong close to last week's trade, driven primarily by a weather-related surge in wheat prices, which are adding to their rally Sunday evening. Meanwhile, corn and soybeans are riding a tailwind created by outstanding export sales for the week ending Jan. 15, as well as continued dryness and declining crop conditions in Argentina heading into a very important February for crop development.

Livestock

Posted 11:37 -- April live cattle are up $0.33 at $237.25, March feeder cattle are up $1.58 at $361.75, April lean hogs are up $0.45 at $96.625, March corn is down 2 cents per bushel and March soybean meal is down $5.10. The Dow Jones Industrial Average is up 202.39 points and NASDAQ is up 166.36 points. The livestock complex is trading fully higher into Monday's noon hour as traders note ample support throughout the marketplace to justify pushing the livestock contracts higher. New showlists appear to be mixed, higher in Texas, but lower in Kansas and Nebraska/Colorado.

Posted 08:37 -- April live cattle are up $0.35 at $237.275, March feeder cattle are up $0.50 at $360.675, April lean hogs are up $0.38 at $96.55, March corn is down 2 3/4 cents per bushel and March soybean meal is down $5.60. The Dow Jones Industrial Average is up 108.41 points and the NASDAQ is up 21.47 points. The cattle complex is trading higher at Monday's start as traders seem to find more positive accolades in Friday's stronger cash cattle trade as opposed to the neutral Cattle on Feed report. It's likely that fed cash cattle prices will trade higher again this week as supplies of market-ready cattle are thin.

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