DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

Illustration by Nick Scalise

Grains

OMAHA (DTN) -- December corn is down 3 3/4 cents per bushel, November soybeans are up 5 3/4 cents, December KC wheat is up 1/2 cent, December Chicago wheat is up 5 1/4 cents and December Minneapolis wheat is down 7 3/4 cents. The Dow Jones Industrial Average is down 162.52 points and November crude oil is down $0.47 per barrel. The U.S. dollar index is down 0.250 and December gold is down $4.20 per ounce. Friday's trade remains mixed, as the entire soy complex is firm in hopes of Chinese buying; corn remains under pressure on the poor export profile and the realization that Argentine corn is offered at a huge discount to U.S. corn. Funds have sold corn, adding to shorts, and bought beans. China was responsible for 850,000 metric tons of the 1 million metric tons of soybeans sold last week.

Posted 10:36 -- December corn is down 2 3/4 cents per bushel, November soybeans are up 6 1/4 cents, December KC wheat is up 1 cent, December Chicago wheat is up 3 3/4 cents and December Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average is down 76.20 points and November crude oil is up $0.04 per barrel. The U.S. dollar index is down 0.100 and December gold is down $2.80 per ounce. Soybeans continue to be firm on rumors of additional Chinese purchases, while corn is under pressure on open harvest weather ahead and the ongoing struggle with export demand, as U.S. sales commitments remain over 50% below a year ago. That is leading to speculation of further export cuts to come.

Posted 08:34 -- December corn is down 3 cents per bushel, November soybeans are up 1/2 cent, December KC wheat is down 1 3/4 cents, December Chicago wheat is down 1 1/4 cents and December Minneapolis wheat is down 1 3/4 cents. The Dow Jones Industrial Average is down 17.76 points and November crude oil is up $0.38 per barrel. The U.S. dollar index is down 0.100 and December gold is down $4.30 per ounce. The big news of the day is the marketing-year high U.S. pork export sales last week, with not only China (94,000 mt), but Mexico (132,400 mt) and Japan (46,400 mt) taking U.S. pork. Exports of 210,900 mt were also the highest for the marketing year.

Livestock

Posted 11:29 -- December live cattle are down $1.65 at $112.725, November feeder cattle are down $2.18 at $142.15, December lean hogs are down $1.45 at $66.7, December corn is down 3 1/2 cents per bushel and December soybean meal is up $2.00. The Dow Jones Industrial Average is down 206.62 points and NASDAQ is down 104.40 points. Markets continue to bleed lower and lower, and in all three cattle charts it's becoming more apparent that the wondered about correction has arrived. Lean hog markets couldn't even lust up the drive to rally with confirmation of next sale early Thursday morning.

Posted 10:37 -- December live cattle are down $1.88 at $112.5, November feeder cattle are down $1.93 at $142.4, December lean hogs are down $1.28 at $66.875, December corn is down 2 3/4 cents per bushel and December soybean meal is up $3.00. The Dow Jones Industrial Average is down 72.54 points and NASDAQ is down 40.07 points. Thursday's estimated hog harvest was 491,000 head, bringing this week's total so far to 1.962 million -- 10,000 head larger than the first four days of last week and comes at a perfect time when exponential sales have been confirmed to outside countries.

Posted 09:13 -- December live cattle are down $0.38 at $114., November feeder cattle are down $0.35 at $143.975, December lean hogs are up $0.45 at $68.6, December corn is down 4 cents per bushel and December soybean meal is up $0.40. The Dow Jones Industrial Average is down 20.70 points and NASDAQ is down 4.48 points. Exciting news circulates around the pork sector as exports have jumped exponentially -- net sales of 229,000 metric tons (mt) have been report for 2019 with is a marketing year high. Mexico's purchased came in as the largest, at 132,100 mt, and then China with 94,000 mt, Japan with 46,400 mt, South Korea 9,900 mt and Canada with 5,800 mt.

(BE)