DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

Illustration by Nick Scalise

Grains

OMAHA (DTN) -- December corn is down 6 cents per bushel, November soybeans are down 14 1/4 cents, September KC wheat is down 3 cents, September Chicago wheat is down 4 1/4 cents and September Minneapolis wheat is down 2 1/4 cents. The Dow Jones Industrial Average is up 276.77 points and September crude oil is up $1.10 per barrel. The U.S. dollar index is up 0.050 and December gold is down $13.20 per ounce. November soybeans have now broken through the $8.70 area and appear headed to the $8.58-$8.60 support area. Mostly favorable weather in most areas and some welcome rainfall in the arid Eastern Corn Belt have sent values lower. Volume has been light, and funds have been modest sellers of corn, beans and bean oil on Monday, selling an estimated 3,000 to 4,000 contracts of each as of noon.

Posted 10:35 -- December corn is down 5 3/4 cents per bushel, November soybeans are down 6 1/2 cents, September KC wheat is down 3 3/4 cents, September Chicago wheat is down 3 1/4 cents and September Minneapolis wheat is down 1 3/4 cents. The Dow Jones Industrial Average is up 276.83 points and September crude oil is up $0.86 per barrel. The U.S. dollar index is up 0.040 and December gold is down $12.60 per ounce. Pressure continues on all three major ag futures markets as the trade awaits various crop tour results in the coming weeks. Export inspections on corn were well shy of the weekly average needed to achieve the USDA projection and remain 16% below a year ago.

P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]

Posted 08:34 -- December corn is down 7 cents per bushel, November soybeans are down 9 cents, September KC wheat is down 5 1/4 cents, September Chicago wheat is down 3 1/4 cents and September Minneapolis wheat is down 3/4 cent. The Dow Jones Industrial Average is up 321.75 points and September crude oil is up $1.02 per barrel. The U.S. dollar index is up 0.040 and December gold is down $15.10 per ounce. Early selling continues in grains and soybeans following some better-than-expected rain totals over the weekend bringing some relief to the needy Eastern Corn Belt. The start of some more private crop tours this week are expected to keep ag Twitter posts very active.

Posted 19:11 -- On Sunday evening, December corn is down 3 1/4 cents, November soybeans are down 5 cents and December Kansas City wheat is down 1 3/4 cents. Grains are starting lower in spite of a seven-day forecast that is mostly dry for the Corn Belt, except for moderate amounts of rain in eastern Nebraska and Missouri. Outside markets lean supportive for grains with Dow Jones futures up 139 points, the September U.S. dollar index up 0.06 and December gold down $3.70. October crude oil is up 40 cents.

Livestock

Posted 12:17 -- October live cattle are up $0.43 at $98.475, August feeder cattle are up $1.30 at $135.875, October lean hogs are up $1.95 at $63.95, September corn is down 6 1/2 cents per bushel and September soybean meal is down $2.70. The Dow Jones Industrial Average is up 291.22 points and NASDAQ is up 125.17 points. Lean hog futures continue to lead the complex higher as traders back away from losses that developed last Friday. Nearby contracts $2 per cwt higher or higher with increased underlying support moving through the entire complex. Cattle futures remain firmly higher, although prices are backing away session highs.

Posted 10:11 -- October live cattle are up $1.45 at $99.50, August feeder cattle are up $1.73 at $136.30, October lean hogs are up $1.95 at $63.95, September corn is down 5 1/2 cents per bushel and September soybean meal is down $0.50. The Dow Jones Industrial Average is up 263.58 points and NASDAQ is up 113.49 points. Additional strong gains have developed in the livestock complex with October lean hog futures leading the shift higher with a $2 per cwt gain. Although not needed at this point, lean hog futures have access to expanded trade limits of $4.50 per cwt through the session. Cattle futures are regaining market support as traders focus on the packing system quickly making up for lost production as the month continues.

Posted 09:14 -- October live cattle are up $1.20 at $99.25, August feeder cattle are up $1.63 at $136.20, October lean hogs are up $1.20 at $63.20, September corn is down 5 1/2 cents per bushel and September soybean meal is down $1.30. The Dow Jones Industrial Average is up 223.80 points and NASDAQ is up 92.20 points. Triple-digit gains are seen in all nearby livestock contracts as buyers step back into the complex following aggressive losses late Friday. A combination of early morning short-covering and buying based on weaker grain trade is helping stimulate additional volume.

(ES)

P[L2] D[728x90] M[320x50] OOP[F] ADUNIT[] T[]
P[R1] D[300x250] M[300x250] OOP[F] ADUNIT[] T[]
P[R2] D[300x250] M[320x50] OOP[F] ADUNIT[] T[]
DIM[1x3] LBL[] SEL[] IDX[] TMPL[standalone] T[]
P[R3] D[300x250] M[0x0] OOP[F] ADUNIT[] T[]