DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Posted 7:14 p.m.: December corn is down 1 cent and November soybeans are up 3/4 cent Sunday evening. December KC wheat is down 1 1/4 cents, December Chicago wheat is down 1 1/4 cents, and December MIAX Minneapolis wheat is down 1 cent. October crude oil is up $0.42 and Dow Jones futures are up 90 points. The U.S. Dollar Index is up 0.13 and December gold is down $24.40. Grain markets are quiet and mixed to begin the new week after a sluggish start to September last week which saw row crop prices continue to bear the weight of large U.S. crop estimates with harvest just around the corner. We may see crop conditions for corn and soybeans decline again in Monday afternoon's USDA NASS weekly Crop Progress update following another mostly dry week for the Eastern Grain Belt and instances of frost during the past few days as well, although the extent of potential damage in that regard is still unknown at this point. In outside market news, OPEC+ agreed over the weekend to additional crude production increases in October. This strains an already heavily supplied market and may weigh on energy prices to begin the week. Soybean oil futures are of particular interest within the ag complex after trading lower in seven of the past 10 sessions, pressuring the soybean market as a result.

Livestock
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