DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Posted 12:42 -- December corn is down 1 3/4 cents per bushel, November soybeans are up 2 1/2 cents, December KC wheat is down 1/2 cent, December Chicago wheat is down 3/4 cent and MIAX December Minneapolis wheat is up 0.0025 cents. The Dow Jones Industrial Average is up 542.85 points. The U.S. Dollar Index is up 0.270 and November crude oil is up $0.90 per barrel. December gold is up $129.00 per ounce. As we approach the Monday close, soybeans and bean oil remain firm while wheat, corn and soymeal are lower. As the corn harvest progresses, it is expected to be nearing 40% complete and yields are very good in the northern and Western Corn Belt and that is likely to offset talk of southern rust in earlier harvested fields. Rumors have China picking up more soybeans Monday from Brazil into December.

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Posted 10:26 -- December corn is down 2 1/4 cents per bushel, November soybeans are down 1/4 cent, December KC wheat is up 3/4 cent, December Chicago wheat is up 1 1/4 cents and MIAX December Minneapolis wheat is up 0.0050 cents. The Dow Jones Industrial Average is up 561.59 points. The U.S. Dollar Index is up 0.280 and November crude oil is up $0.74 per barrel. December gold is up $116.80 per ounce. At midmorning, corn is extending losses, soybeans are back to lower and wheat is up a penny in very slow trade. There is very little news but trade tensions with China, the expanding harvest and rising world wheat production are weighing on futures.

Posted 08:31 -- December corn is up 1/2 cent per bushel, November soybeans are up 3 3/4 cents, December KC wheat is down 3/4 cent, December Chicago wheat is down 1 1/4 cents and MIAX December Minneapolis wheat is down 0.0025 cents. The Dow Jones Industrial Average is up 424.62 points. The U.S. Dollar Index is up 0.260 and November crude oil is up $0.66 per barrel. December gold is up $107.70 per ounce. Corn, wheat and soymeal are mixed to lower while beans and bean oil are a bit higher in quiet trade.

Posted 19:22 Sunday -- December corn is up 1 1/2 cents per bushel, November soybeans are up 2 3/4 cents, December KC wheat is up 2 1/2 cents, December Chicago wheat is up 2 3/4 cents and MIAX December Minneapolis wheat is up 0.0200 cents. The Dow Jones Industrial futures are up 340 points on likely optimism from Monday's hopeful end of the Israel-Hamas war and the hoped-for release of the hostages. The U.S. Dollar Index is up 0.040 and November crude oil is up $0.58 per barrel. December gold is up $45.50 per ounce. Corn, wheat and soybeans start a bit higher Sunday night, led by KC wheat and soybeans. Gold is again rallying sharply as are equity futures, with the U.S/ Dollar higher. The market is likely reacting to the impending end of the Israel-Hamas war and the expected release of hostages.

Livestock

Posted 11:47 -- December live cattle are up $1.68 at $244.2, November feeder cattle are up $0.50 at $376.4, December lean hogs are up $1.00 at $85.025, December corn is down 2 1/2 cents per bushel and December soybean meal is down $1.20. The Dow Jones Industrial Average is up 598.51 points and NASDAQ is up 456.69 points. The livestock complex is rallying into Monday's noon hour as traders are again eager to support and push the contracts higher upon last week's success (stronger beef demand and higher trade in the fed cash cattle market). It's also helpful this morning that the equity markets are higher too. New showlists appear to be a tad lower in Nebraska/Colorado and Texas and lower in Kansas.

Posted 08:36 -- December live cattle are up $0.60 at $243.125, November feeder cattle are up $0.33 at $376.225, December lean hogs are up $1.28 at $85.3, December corn is up 1/2 cent per bushel and December soybean meal is steady. The Dow Jones Industrial Average is up 427.34 points and NASDAQ is down 820.20 points. The cattle complex is off to a stronger start as the contracts are pleased to see the uptick in the equity markets. It will be imperative to see exactly how many cattle traded last week as the Southern Plains only noted minimal movement.

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