DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- March corn is down 4 3/4 cents per bushel, March soybeans are down 10 cents, March KC wheat is down 5 3/4 cents, March Chicago wheat is down 7 1/4 cents and MIAX March Minneapolis wheat is down 5 cents. The Dow Jones Industrial Average is down 485.73 points. The U.S. Dollar Index is up 0.800 and March crude oil is down $1.00 per barrel. April gold is down $599.70 per ounce. As we approach the Friday close, grain and soy markets are extending sizable losses. Soybeans and soy products are leading the way down on the expanding Brazilian harvest. As Mato Grosso updates both soy harvest progress and safrinha corn planting this afternoon, expectations are for soy planting to have reached the mid 20% level and for corn seeding to have advanced to 15% done or higher. Outside markets are providing additional pressure with equities, metals and now crude oil sharply lower.

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Posted 10:40 -- March corn is down 4 3/4 cents per bushel, March soybeans are down 6 1/4 cents, March KC wheat is down 5 1/4 cents, March Chicago wheat is down 6 1/2 cents and MIAX March Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average is down 408.27 points. The U.S. Dollar Index is up 0.600 and March crude oil is up $0.37 per barrel. April gold is down $351.30 per ounce. At midmorning, all of the grain and soy markets are extending losses with soybeans and wheat leading the way down. The Dollar is moving sharply higher and gold futures are down $356 per ounce.

Posted 08:35 -- March corn is down 2 3/4 cents per bushel, March soybeans are down 4 3/4 cents, March KC wheat is up 1/4 cent, March Chicago wheat is up 1/4 cent and MIAX March Minneapolis wheat is down 3 cents. The Dow Jones Industrial Average is down 120.50 points. The U.S. Dollar Index is up 0.390 and March crude oil is up $0.35 per barrel. April gold is down $242.20 per ounce. Corn, soybeans and soy products are under pressure early Friday while Chicago and KC wheat are a bit higher on short covering. Gold futures have made an about face and plunged nearly $400 per ounce from Thursday's new high.

Livestock

Posted 11:49 -- April live cattle are down $0.73 at $236.55, March feeder cattle are down $5.30 at $359.825, April lean hogs are down $0.33 at $95.125, March corn is down 4 1/4 cents per bushel and March soybean meal is down $3.20. The Dow Jones Industrial Average is down 439.20 points and NASDAQ is down 178.12 points. The cattle contracts may be trading in a timid manner into Friday's noon hour ahead of the Cattle Inventory report, but that hasn't affected the week's fed cash cattle market as prices are sharply higher. Southern live cattle are mostly being marked at $238 to $240, which is $3.00 to $5.00 higher than last week's weighted average and Northern dressed cattle are trading at $375 to $378, which is $6.00 to $9.00 higher than last week's weighted average.

Posted 08:40 -- April live cattle are down $0.93 at $236.35, March feeder cattle are down $2.15 at $362.975, April lean hogs are down $0.40 at $95.05, March corn is down 2 1/2 cents per bushel and March soybean meal is down $0.90. The Dow Jones Industrial Average is down 123.22 points and NASDAQ is down 118.94 points. The livestock complex is trading mostly lower as traders appraise the marketplace, looking to see if support is going to be sufficient. Do note that we still need fed cash cattle trident to develop and later this afternoon the Cattle Inventory report is set to be released.

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