DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- March corn is down 4 1/2 cents per bushel, March soybeans are up 5 3/4 cents, March KC wheat is down 23 cents, March Chicago wheat is down 18 3/4 cents and March Minneapolis wheat is down 13 cents. The Dow Jones Industrial Average is up 88.86 points and March crude oil is down $0.03 per barrel. The U.S. Dollar Index is up 0.700 and February gold is down $35.50 per ounce. With 20 minutes to go until the close, wheat and corn remain under pressure, while beans are still higher, but a dime below the new contract high. Soybeans are reacting to falling ideas on Brazilian production, with state crop agency, Deral, estimating Parana's crop could be down 35% versus last year.

Posted 10:57 -- March corn is up 1/2 cent per bushel, March soybeans are up 13 3/4 cents, March KC wheat is down 11 cents, March Chicago wheat is down 11 1/4 cents and March Minneapolis wheat is down 5 1/4 cents. The Dow Jones Industrial Average is up 487.02 points and March crude oil is down $0.02 per barrel. The U.S. Dollar Index is up 0.730 and February gold is down $38.30 per ounce. Soybeans have surged to yet another new contract high, along with bean oil futures. Falling crop production estimates from South America are driving the gains. Wheat weakness extends for a second day on easing of tensions on the border of Ukraine, at least temporarily.

Posted 08:36 -- March corn is down 2 3/4 cents per bushel, March soybeans are up 3 cents, March KC wheat is down 10 3/4 cents, March Chicago wheat is down 11 cents and March Minneapolis wheat is down 2 3/4 cents. The Dow Jones Industrial Average is up 305.06 points and March crude oil is up $0.67 per barrel. The U.S. Dollar Index is up 0.640 and February gold is down $27.20 per ounce. Wheat and corn crumble, while soybeans have now fallen 8 cents from the new contract high early Thursday. Soybean and palm oil both reached new contract highs on news that Indonesia was planning to cut back on palm oil exports. Crude oil has hit a new high on ideas that oil exports could be impacted in the event of a Russian invasion of Ukraine.

Livestock

Posted 11:37 -- April live cattle are down $0.03 at $141.875, March feeder cattle are down $0.48 at $160.325, April lean hogs are down $2.10 at $94.35, March corn is down 3 cents per bushel and March soybean meal is up $2.30. The Dow Jones Industrial Average is up 183.76 points and NASDAQ is down 43.30 points. The cash cattle market hasn't seen any more interest arise. Even though the week's movement has been thin, it's looking like the week's business is essentially done. Southern live deals have been marked at $136 to $137, mostly $137, fully steady with last week's weighted averages. Northern dressed transactions have been marked at $218, also fully steady with the prior week, basis Nebraska.

Posted 08:33 -- April live cattle are down $0.05 at $141.85, March feeder cattle are up $0.35 at $161.15, April lean hogs are down $0.58 at $95.875, March corn is down 5 1/4 cents per bushel and March soybean meal is down $1.00. The Dow Jones Industrial Average is up 320.96 points and NASDAQ is up 146.84 points. Beef net sales of 14,300 mt for 2022 were primarily for South Korea (6,200 mt), Japan (3,900 mt) and Mexico (600 mt). Pork net sales of 49,100 mt for 2022 were primarily for Mexico (17,300 mt), China (16,900 mt) and Canada (3,000 mt). DTN Livestock Analyst ShayLe Stewart will be at the NCBA convention in Houston Feb. 1-3. Stop by the DTN/Progressive Farmer booth and meet her.

(c) Copyright 2022 DTN, LLC. All rights reserved.