DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- December corn is up 5 1/4 cents per bushel, November soybeans are down 8 cents per bushel. December KC wheat is up 7 1/4 cents per bushel, December Chicago wheat is up 7 1/4 cents per bushel and December Minneapolis wheat is up 6 1/2 cents. The Dow Jones Industrial Average is up 245.53 points at 42,985.95. The U.S. Dollar Index is up 0.280 at 103.54. November crude oil is down $0.13 per barrel at $70.45. At midday soybeans and bean oil are still trading lower, while corn and wheat remain firm. Funds have been buyers of corn and wheat and sellers of beans and bean oil. The forecast for Brazil remains favorable with a mix of rain and sun for the next ten days. Mato Grosso was reported to have heavy rain overnight Tuesday. While China has been buying some U.S. soybeans through the end of the year, they are reported to be looking to Brazil for winter soy needs.
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Posted 10:42 -- December corn is up 4 1/4 cents per bushel, November soybeans are down 1 1/2 cents per bushel. December KC wheat is up 6 1/4 cents per bushel, December Chicago wheat is up 6 1/4 cents per bushel and December Minneapolis wheat is up 6 cents. The Dow Jones Industrial Average is up 201.19 points at 42,941.61. The U.S. Dollar Index is up 0.200 at 103.46. November crude oil is down $0.44 per barrel at $70.14. Corn and wheat are stronger, with soybeans and bean oil just slightly lower. The USDA announced a total of 76.5 mb of new corn sales early Wednesday, with Mexico and unknown destinations buying, along with another new soy purchase of 6.4 mb sold to unknown.
Posted 08:35 -- December corn is up 3 cents per bushel, November soybeans are up 7 1/2 cents per bushel. December KC wheat is up 1/2 cent per bushel, December Chicago wheat is up 1 cent per bushel and December Minneapolis wheat is up 2 1/2 cents. The Dow Jones Industrial Average is up 32.06 points at 42,772.48. The U.S. Dollar Index is up 0.010 at 103.27. November crude oil is up $0.10 per barrel at $70.68. Corn, soybeans, soy products and now wheat are all higher, with corn getting a boost from large new sales. The USDA announced several new export sales: Sold 175,000 mt (6.4 mb) of soybeans to unknown destinations for 2024-25. Sold 322,000 mt (12.7 mb) of corn to unknown for 2024-25. Sold 1,623,060 mt (63.8 mb) of corn to Mexico, with 41 mb for 2024-25 and 22.8 mb for 2025-26.
LivestockPosted 11:41 -- December live cattle is steady, November feeder cattle are down $0.48 at $246., December lean hogs are up $1.93 at $77.15, December corn is up 3 cents per bushel and December soybean meal is up $1.50. The Dow Jones Industrial Average is up 248.93 points. Thus far it's been a mixed day for the livestock complex as all three of the markets are heading into Wednesday's noon hour mixed. No cash cattle trade has developed yet but packer interest could improve throughout the day, although the bulk of the week's trade will likely be delayed until Thursday or Friday.
Posted 08:39 -- December live cattle are up $0.18 at $186.70, November feeder cattle are down $0.33 at $246.15, December lean hogs are up $0.60 at $75.825, December corn is up 2 3/4 cents per bushel and December soybean meal is up $2.90. The Dow Jones Industrial Average is up 29.52 points. After a lower ending day on Tuesday, the livestock complex is off to a better start Wednesday morning. Asking prices are noted in the South at $189 to $190 but are still not established in the North. Packer interest could improve throughout the day, but cattle aren't expected to trade until later in the week.
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