DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- As we near the week's end, March corn is up 1 1/4 cents per bushel, January soybeans are down 6 1/2 cents, March KC wheat is down 14 1/4 cents, March Chicago wheat is down 13 1/2 cents and March Minneapolis wheat is down 9 1/2 cents. The Dow Jones Industrial Average is down 66.09 points and January crude oil is down $1.02 per barrel. The U.S. Dollar Index is down 0.027 and February gold is up $8.80 per ounce. Wheat is under pressure despite today's reminder from USDA that global stocks outside of China are forecast to reach the lowest volume in 15 years. Soybeans are lower, but poised for a weekly gain, led by soymeal which has reached a fresh contract high for four consecutive days while crude oil weakness continues to weigh on vegetable oils.

Posted 11:19 -- Following the December WASDE, March corn is up 1 1/2 cents per bushel, January soybeans are down 1 1/4 cents, March KC wheat is down 6 cents, March Chicago wheat is down 8 cents and March Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average is up 33.59 points and January crude oil is up $0.24 per barrel. The U.S. Dollar Index is down 0.017 and February gold is up $14.10 per ounce. Markets have moved little since pre-report trade. Today's WASDE estimates were viewed as neutral for U.S. domestic corn, soybeans, and wheat; global estimates were viewed as slightly bullish for corn and neutral for soybeans and wheat.

Posted 10:37 -- March corn is up 4 1/2 cents per bushel, January soybeans are down 2 cents, March KC wheat is down 5 1/4 cents, March Chicago wheat is down 6 cents and March Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average is up 19.31 points and January crude oil is up $0.79 per barrel. The U.S. Dollar Index is down 0.050 and February gold is up $14.80 per ounce. Corn and soymeal are maintaining solid gains at midmorning Friday, while all three wheat markets are still lower. Corn is acting counter to expectations for a reduction in U.S. export demand and increase in ending stocks on the December WASDE 25 minutes from now.

Posted 08:35 -- March corn is up 2 3/4 cents per bushel, January soybeans are down 2 1/2 cents, March KC wheat is down 4 1/4 cents, March Chicago wheat is down 2 3/4 cents and March Minneapolis wheat is down 2 cents. The Dow Jones Industrial Average is down 70.78 points and January crude oil is up $0.68 per barrel. The U.S. Dollar Index is up 0.130 and February gold is up $7.10 per ounce. Corn and soymeal are slightly higher, while wheat and beans are weaker to start. There is not a whole lot of fresh news to impact ag markets early on as we await the December WASDE report. Soybean meal appears to be overbought but is headed for a possible eight straight higher finish.

Livestock

Posted 11:42 -- February live cattle are up $1.68 at $155.6, January feeder cattle are up $0.10 at $183.575, February lean hogs are down $0.68 at $84.025, March corn is up 2 1/4 cents per bushel and January soybean meal is up $6.00. The Dow Jones Industrial Average is down 20.99 points. Cash cattle country remains rather quiet at this time, with just a few bids on the table. More business should need to take place as weekly trade volume totals look rather light.

Posted 08:39 -- February live cattle are up $0.18 at $154.1, January feeder cattle are down $0.43 at $183.05, February lean hogs are down $0.30 at $84.4, March corn is up 2 3/4 cents per bushel and January soybean meal is up $4.40. The Dow Jones Industrial Average is down 52.38 points. Some cash cattle bids of $154 have been renewed in the Southern half of feeding states, but so far, those bids continue to be passed. A light to moderate trade has been reported this week in the North at mostly $247, $2 lower than the prior week's business.

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This year's DTN Ag Summit will be conducted virtually on the mornings of Dec. 12-13, 2022. Please join us for DTN lead analyst Todd Hultman's insights into how long these high crop prices will last and what to watch for in the year ahead. Full details available at www.dtn.com/agsummit

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