DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is up 1/4 cent per bushel, January soybeans are up 11 1/4 cents, March KC wheat is down 18 cents, March Chicago wheat is down 16 3/4 cents and March Minneapolis wheat is down 9 cents. The Dow Jones Industrial Average is down 40.22 points and January crude oil is up $0.71 per barrel. The U.S. Dollar Index is down 0.460 and February gold is up $0.50 per ounce. With 30 minutes left to go, wheat and soybeans are moving in opposite directions. January beans have moved 23 cents above the daily low, while wheat markets are making new lows. A poor technical look on the wheat charts and fears of higher Australian and Canadian crops on Thursday's report have combined to pummel wheat. Funds are buying meal and selling bean oil.

Posted 10:31 -- March corn is up 1 cent per bushel, January soybeans are up 6 1/2 cents, March KC wheat is down 14 1/4 cents, March Chicago wheat is down 11 cents and March Minneapolis wheat is up 1 cent. The Dow Jones Industrial Average is down 75.45 points and January crude oil is up $0.42 per barrel. The U.S. Dollar Index is down 0.360 and February gold is down $1.50 per ounce. Soybeans have made a nice about face, rising 20 cents from the lows on the heels of soybean meal strength and more China sales. The winter wheat markets remain under heavy pressure. Corn is close to unchanged despite a sale of 72.6 million bushels to Mexico, with 42.9 mb for the 2021-22 crop year.

Posted 09:38 -- March corn is up 2 cents per bushel, January soybeans are up 5 1/4 cents, March KC wheat is down 12 1/2 cents, March Chicago wheat is down 8 3/4 cents and March Minneapolis wheat is up 2 1/2 cents. The Dow Jones Industrial Average is down 29.37 points and January crude oil is down $0.32 per barrel. The U.S. Dollar Index is down 0.330 and February gold is down $1.50 per ounce. For the week ending Dec. 3, ethanol production recovered -- rising 5% or 55,000 barrels per day to 1.090 million bpd. That compares to 991,000 bpd last year at this time. Ethanol stocks had a modest build of just under 1% to 20.5 million barrels. The report is slightly bullish for corn.

Posted 08:33 -- March corn is down 1 1/4 cents per bushel, January soybeans are down 6 1/2 cents, March KC wheat is down 9 1/2 cents, March Chicago wheat is down 9 cents and March Minneapolis wheat is down 3 1/4 cents. The Dow Jones Industrial Average is up 20.28 points and January crude oil is down $0.34 per barrel. The U.S. Dollar Index is down 0.230 and February gold is down $1.70 per ounce. Soybeans and bean oil are leading a downward charge in ag commodities early on Wednesday. USDA announced a sale of 130,000 mt (4.8 mb) of soybeans sold to China for 2021-22 and a sale of 1,844,040 mt (72.6 mb) of corn to Mexico. Of that, 1,089,660 mt (42.9 mb) are for 2021-22, and 754,380 mt (29.7 mb) are for the 2022-23 crop year.

Livestock

Posted 11:40 -- February live cattle are down $0.30 at $138.925, January feeder cattle are down $1.50 at $163.525, February lean hogs are steady, March corn is up 1 1/4 cents per bushel and January soybean meal is up $7.80. The Dow Jones Industrial Average is down 81.08 points and NASDAQ is up 28.47 points. With the livestock complex's lower tone, it's unlikely that the cash cattle market sees much interest develop throughout the day. Bids of $220 have been offered in Nebraska, but otherwise the market hasn't seen much interest thus far. Asking prices are set at $144 to $145 in the Southern Plains and in the North at $224.

Posted 08:38 -- February live cattle are down $0.15 at $139.075, January feeder cattle are down $0.60 at $164.425, February lean hogs are down $0.88 at $75.675, March corn is down 1/4 cent per bushel and January soybean meal is up $1.70. The Dow Jones Industrial Average is up 82.89 points and NASDAQ is down 44.53 points. The livestock contracts are roaring into Wednesday's trade with an overabundance of support. That isn't great for the cash cattle market, which could see trade develop as early as Wednesday. Asking prices in the South are noted at $144 to $145 and the North has yet to disclose their asking prices.

(c) Copyright 2021 DTN, LLC. All rights reserved.