DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:49 -- March corn is up 4 1/2 cents per bushel, March soybeans are up 19 3/4 cents, March KC wheat is up 7 1/2 cents, March Chicago wheat is up 8 1/2 cents and MIAX March Minneapolis wheat is up 21/4 cents. The Dow Jones Industrial Average is down 520.10 points. The U.S. Dollar Index is up 0.190 and March crude oil is down $1.69 per barrel. April gold is down $63.30 per ounce. Heading into the Thursday close grain and soy markets with the exception of bean oil are flying higher. Rumors that RVOs may not be released until late March along with weaker crude are pressuring bean oil. Corn and wheat are rallying on fund short-covering. Funds have been very active while buying an estimated 23,000 corn, 13,000 beans, 9,000 soymeal along with wheat. All but the bean buying is short covering.

Posted 10:31 -- March corn is up 4 3/4 cents per bushel, March soybeans are up 18 1/4 cents, March KC wheat is up 8 cents, March Chicago wheat is up 8 3/4 cents and MIAX March Minneapolis wheat is up 3 cents. The Dow Jones Industrial Average is down 485.38 points. The U.S. Dollar Index is up 0.220 and March crude oil is down $1.89 per barrel. April gold is down $79.80 per ounce. At midmorning, corn and wheat have joined the soybean euphoria on hopes that China will indeed buy more U.S. beans this year. I would assume the wheat and corn rallies are fueled by fund short-covering.

Posted 08:31 -- March corn is down 3/4 cent per bushel, March soybeans are up 7 3/4 cents, March KC wheat is down 2 3/4 cents, March Chicago wheat is down 1 3/4 cents and MIAX March Minneapolis wheat is up 3/4 cent. The Dow Jones Industrial Average is down 229.36 points. The U.S. Dollar Index is up 0.100 and March crude oil is down $1.69 per barrel. April gold is down $111.20 per ounce. Soybeans and soymeal continue to be firm while corn, wheat and bean oil fall. There is still some hope China will step up to buy more U.S. beans this year despite a price disadvantage to Brazil soy.

Livestock

Posted 11:33 -- April live cattle are down $3.98 at $237.825, March feeder cattle are down $4.23 at $365.85, April lean hogs are down $0.23 at $98.225, March corn is up 5 cents per bushel, and March soybean meal is up $8.90. The Dow Jones Industrial Average is down 283.56 points. Lower futures are tied in part to workers at the JBS plant in Greeley, Colorado, voting to strike -- this plant kills roughly 5,000 head a day -- and lower outside markets. A few bids are now on the table in parts of Iowa at $375 but asking prices have yet to be established. The rest of cattle country remains very quiet at midday. Beef cutouts are lower at midday (choice 367.20 down 0.82, select 361.01 down 1.08) with light box movement (39 lds of choice cuts, 4 lds of select cuts, 0 lds of trim, and 6 lds of ground), with a choice/select spread of 6.19. Thursday's projected cattle slaughter is 113,000. Pork cutouts at midday are 94.31, +1.31, with 136.75 total loads. Thursday's projected hog slaughter is 493,000.

Posted 08:39 -- April live cattle are down $7.25 at $234.55, March feeder cattle are down $9.20 at $360.875, April lean hogs are down $1.08 at $97.375, March corn is down 1 cent per bushel, and March soybean meal is up $4.00. The Dow Jones Industrial Average is down 339.22 points. Cash cattle trade remains very slow to start with bids and asking prices still not established. Although packer inquiries should start to improve throughout the day, significant trade volume could possibly be delayed until sometime on Friday. The CME Feeder Index for February 03, 2026, was $0.44 lower at $374.57, while the projected CME Lean Hog Index for February 03, 2026, was up $0.23, at $86.06.

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