DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is up 17 cents per bushel, November soybeans are up 12 3/4 cents, December Kansas City wheat is up 18 3/4 cents, December Chicago wheat is up 16 1/2 cents and December Minneapolis wheat is up 13 1/4 cents. The Dow Jones Industrial Average is up 424.74 points and November crude oil is up $0.93 per barrel. The U.S. dollar index is down 0.420 and December gold is down $12.40 per ounce. The grain, soy and equities markets continue to soar as various media outlets, including the LA Times and Bloomberg, report that a partial deal with China will be completed today. Ideas are that not only will the deal include large U.S. soybean and pork purchases, but rumors suggest also Chinese purchases of U.S. corn, wheat and even ethanol. Funds, which sold with reckless abandon, are buying back corn and wheat today -- an estimated 23,000 and 11,000 contracts respectively, as of noon.

Posted 10:34 -- December corn is up 13 3/4 cents per bushel, November soybeans are up 11 1/2 cents, December KC wheat is up 13 cents, December Chicago wheat is up 15 cents and December Minneapolis wheat is up 8 3/4 cents. The Dow Jones Industrial Average is up 468.93 points and November crude oil is up $1.04 per barrel. The U.S. dollar index is down 0.460 and December gold is down $16.90 per ounce. Corn has recovered nearly all of Thursday's post-report losses, while soybean and wheat are also rallying hard on renewed optimism over a potential U.S.-China trade deal. Also, a severe snowstorm in the Northern Plains and upper Midwest that threatens to trim yield and production, and slow down the already record slow harvest progress, is encouraging funds to cover remaining shorts.

Posted 08:35 -- December corn is up 5 3/4 cents per bushel, November soybeans are up 5 1/2 cents, December KC wheat is up 5 3/4 cents, December Chicago wheat is up 4 cents and December Minneapolis wheat is up 1 1/4 cents. The Dow Jones Industrial Average is up 298.88 points and November crude oil is up $0.43 per barrel. The U.S. dollar index is down 0.460 and December gold is down $10.80 per ounce. Grain and outside macro-markets are all higher to begin as there appears to be a positive buzz about a possible U.S.-China trade deal. The second day of trade negotiations wrap up on Friday with a visit to the White House by China's Vice Premier Liu He. Rumors are swirling regarding the potential for a deal to include large amounts of both U.S. soybeans and pork.

Livestock

Posted 11:30 -- December live cattle are up $0.63 at $112.05, November feeder cattle are down $0.03 at $144.1, December lean hogs are up $0.70 at $69.175, December corn is up 14 3/4 cents per bushel and December soybean meal is up $3.10. The Dow Jones Industrial Average is up 375.63 points and NASDAQ is up 127.11 points. As the day progresses on, rumors of a trade deal being negotiated becomes more and more real. So far, there has been talk about soybeans being purchased, but other livestock/agriculture commodities have yet to be mentioned. Nevertheless, progression is being make and optimism is the underlying tone.

Posted 10:35 -- December live cattle is steady, November feeder cattle are down $0.25 at $143.875, December lean hogs are up $0.50 at $68.975, December corn is up 13 1/4 cents per bushel and December soybean meal is up $3.70. The Dow Jones Industrial Average is up 450.82 points and NASDAQ is up 151.43 points. All livestock contracts continue to rally with support, except for the feeder cattle market, which could be taking the back burner while the rest of the contracts stir up some dust and corn prices surge, making feedlots cautions about input costs once again.

Posted 09:01 -- December live cattle are up $0.38 at $111.8, November feeder cattle are up $0.13 at $144.25, December lean hogs are up $0.83 at $69.3, December corn is up 9 cents per bushel and December soybean meal is up $3.60. The Dow Jones Industrial Average is up 375.53 points and NASDAQ is up 125.62 points. Positivity immerses the entire trading complex, including the livestock complex, where all markets are trading moderately higher Friday morning. For the undeveloped cash cattle trade, this should be the much-needed support feeders were looking for to ensure higher cash prices again this week.

(ES)

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