DTN's Quick Takes

Grains

Posted 10:32 -- So far, a positive performance by grains in light of the still negative macro environment. December corn is unchanged, January beans have rallied back and are 9 cents higher, Chicago December wheat is up 3 1/4 cents per bushel, Kansas City December is up 3/4 of a cent and Minneapolis December wheat is off 3/4 of a cent per bushel. The U.S. dollar index is .41 higher, while crude oil is down 2.88 per barrel, and the Dow and S&P have continued their downward spiral, at off 453 and 37 points respectively. The equities markets continue to reflect a perception that global growth is slowing. Soybeans continue to move in a sideways pattern, with spot January bounded by $9.00 on the upside and $8.50 on the downside, as the trade awaits a verdict on the U.S./China trade conflict.

Posted 08:55 -- December corn is up 1/4 of a cent, January soybeans are up 6 3/4 cents, Kansas City December wheat is down 1 1/4, Chicago December wheat is up 3/4 of a cent and Minneapolis December is off 1/2 cent. Soybeans are bouncing despite the continued negative vibes from outside markets, with crude oil now down $1.20, the U.S. dollar index up .33 and the Dow down another 425 points. The trade will continue to await any news from the upcoming meetings between U.S. and China trade representatives at the November 30 G-20 meetings.

Livestock

OMAHA (DTN) -- Strong losses continue to hold in nearby lean hog futures with traders slowly but consistently backing away from the aggressive gains seen over the past few days. This is market positioning, rather than a direction shift. Cattle markets have been stuck in a narrow trading range through most of the morning. This may limit additional moves not only later Tuesday, but through the rest of the week.

Posted 10:38 -- Traders continue to hold onto a bearish overall tone Tuesday morning with triple-digit losses seen in nearby lean hog trade. This move lower has sparked additional light activity in deferred lean hog futures, as well as limited moves in the cattle complex which is holding 10 to 60 cent losses. Most eyes are still on outside markets, which have stock markets and energy trade sharply lower during the morning. Even though grain markets are steady to higher midmorning, the lack of support in the lightly traded market is evident. Livestock futures are expected to struggle to find any sense of buyer support through the end of the session.

Posted 09:35 -- Outside market pressure is weighing on early activity in livestock trade. Nearby lean hog futures are leading the market lower with nearby losses of $1 to $1.50 per cwt through the first hour of trade. Cattle markets have backed off session lows, but continue to hold moderate losses. The fact that the Dow Jones index is trading 500 points lower through the morning Tuesday is creating a lot of questions in all commodity markets.

(BE)

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