DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

Illustration by Nick Scalise

Grains

OMAHA (DTN) -- December corn is down 3/4 cent per bushel, November soybeans are down 4 3/4 cents, December KC wheat is up 1 1/2 cents, December Chicago wheat is up 5 3/4 cents and December Minneapolis wheat is up 1 1/2 cents. The Dow Jones Industrial Average is down 70.19 points and November crude oil is down $0.89 per barrel. The U.S. dollar index is down 0.130 and December gold is down $7.80 per ounce. Corn is little changed, while soybeans have been pressured all day with China soy purchases likely disappointing the trade. Funds have been sellers Friday morning of an estimated 4,000 corn and 5,000 soybeans as of noon -- adding to net shorts in both. Wheat is higher on strength in French wheat futures and expanding dryness in both Australia and Argentina, but U.S. winter wheats are priced much higher than the competition.


Posted 10:36 -- December corn is down 1 cent per bushel, November soybeans are down 4 1/2 cents, December KC wheat is up 1/4 cent, December Chicago wheat is up 4 1/4 cents and December Minneapolis wheat is up 1 cent. The Dow Jones Industrial Average is up 110.43 points and November crude oil is up $0.07 per barrel. The U.S. dollar index is down 0.130 and December gold is down $16.30 per ounce. Markets have changed little in the opening two hours, with beans and corn still a bit lower, and wheat higher. Heavy rains look to impact some parts of the Corn Belt over the next seven days, and a major storm is set to move across the Northern Plains and southern Canadian Prairies, dumping rains and snow. The small soybean sale to China announced on Friday morning was not enough to satisfy bulls.

Posted 08:38 -- December corn is down 2 3/4 cents per bushel, November soybeans are down 4 3/4 cents, December KC wheat is up 1 1/2 cents, December Chicago wheat is up 3 cents and December Minneapolis wheat is up 1 3/4 cents. The Dow Jones Industrial Average is up 65.09 points and November crude oil is down $0.92 per barrel. The U.S. dollar index is down 0.030 and December gold is down $20.00 per ounce. Another 126,000 mt of U.S. soybeans were announced on Friday morning, bringing the total for the week to 964,000 mt (35.4 mb) -- far below most rumored estimates. Soybeans and corn begin Friday under pressure as weather updates suggest less chance of an impactful frost event.

Livestock

Posted 11:32 -- December live cattle are up $1.45 at $110.2, October feeder cattle are up $1.13 at $144.225, December lean hogs are up $0.13 at $70.5, December corn is down 1 cent per bushel and December soybean meal is down $0.60. The Dow Jones Industrial Average is down 18.79 points and NASDAQ is down 41.57 points. Cash cattle prices rally right in line with Thursday's prices. If deals continue to be made on Thursday's $3 gains, the market could close Friday with substantial wins for both the cash and future's markets.

Posted 10:22 -- December live cattle are up $1.40 at $110.15, October feeder cattle are up $1.30 at $144.4, December lean hogs are up $0.65 at $71.025, December corn is down 1 1/4 cents per bushel and December soybean meal is down $1.00. The Dow Jones Industrial Average is up 105.77 points and NASDAQ is up 2.55 points. Dow Jones reported that December cattle have seen the highest price since August, rising roughly 9.5% since the year low established in September.

Posted 08:55 -- December live cattle are up $0.35 at $109.1, October feeder cattle are up $0.13 at $143.225, December lean hogs are up $0.70 at $71.075, December corn is down 1/2 cent per bushel and December soybean meal is down $0.70. The Dow Jones Industrial Average is up 94.05 points and NASDAQ is up 6.00 points. Cash cattle trade heated up Thursday evening when dressed cattle sold for $165 in Nebraska and Iowa. A few lots have sold Friday morning at $103 in Texas, $2 higher than last week. More trade is expected to happen throughout the day.

(BE)