DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- December corn is down 3 1/4 cents per bushel, November soybeans are down 10 cents, September KC wheat is down 1 3/4 cents, September Chicago wheat is down 5 1/4 cents and September Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average is down 19.05 points and September crude oil is down $0.74 per barrel. The U.S. Dollar Index is up 0.690 and December gold is down $41.80 per ounce. Grain and soybeans continue to tumble on beneficial weather and rising production ideas that are likely to be taken into consideration on next week's USDA report. September corn has again scored a new contract low, along with Kansas City wheat and soybean meal. Funds are selling everything, credited with the sale of 6,000 wheat, 8,000 corn and 5,000 beans as of noon. They are adding to corn and meal shorts.

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Posted 10:35 -- December corn is down 3 cents per bushel, November soybeans are down 8 1/2 cents, September KC wheat is down 5 1/4 cents, September Chicago wheat is down 9 cents and September Minneapolis wheat is down 4 1/4 cents. The Dow Jones Industrial Average is down 83.21 points and September crude oil is down $0.58 per barrel. The U.S. Dollar Index is up 0.580 and December gold is down $22.30 per ounce. Despite another sizable soy purchase by China of nearly 17 million bushels announced early on Friday, soybeans, wheat and corn are getting pummeled, with new contract lows again in KC and Minneapolis wheat, and December corn close to setting a fresh low. With no extreme heat and a bit wetter forecast next week, rising yield and crop expectations are pressuring markets.

Posted 08:36 -- December corn is down 1 1/4 cents per bushel, November soybeans are down 2 1/4 cents, September KC wheat is down 1 3/4 cents, September Chicago wheat is down 3 cents and September Minneapolis wheat is down 3/4 cent. The Dow Jones Industrial Average is down 84.79 points and September crude oil is down $0.42 per barrel. The U.S. Dollar Index is up 0.680 and December gold is down $7.70 per ounce. USDA announced 456,000 mt (16.76 million bushels) of new crop soybeans sold to China. China continues to ramp up buying as stocks at main China ports are reported to be over 7.5 mmt now, according to data company JCI from China. That compares to stocks of under 5 mmt in November. Grains and soybeans continue to wilt, fueled by expectations of higher production in major exporting countries.

Livestock

Posted 11:32 -- October live cattle are up $0.13 at $107.1, September feeder cattle are up $0.03 at $145.9, October lean hogs are up $2.48 at $51.675, December corn is down 3 cents per bushel and December soybean meal is down $1.10. The Dow Jones Industrial Average is down 40.37 points and NASDAQ is down 39.31 points. Livestock contracts are taking another swing at the market before the week closes and heads into the weekend. Feeder cattle and lean hog contracts are taking advantage of the momentum while the live cattle contracts are hesitant.

Posted 10:34 -- October live cattle are up $0.28 at $107.25, September feeder cattle are up $0.05 at $145.925, October lean hogs are up $1.38 at $50.575, December corn is down 3 1/4 cents per bushel and December soybean meal is down $1.40. The Dow Jones Industrial Average is down 83.63 points and NASDAQ is down 27.79 points. Feeder cattle and lean hog contracts are regaining strength while the live cattle complex is unsure how the day's trade will evolve. Cash cattle trade is slow and quiet, though there still is the potential that more northern cattle will trade.

Posted 08:36 -- October live cattle are down $0.23 at $106.75, September feeder cattle are down $0.33 at $145.55, October lean hogs are up $0.93 at $50.125, December corn is down 1 1/2 cents per bushel and December soybean meal is down $0.70. The Dow Jones Industrial Average is down 69.09 points and NASDAQ is down 28.52 points. As another week nears closing, traders are leery of how much ground the livestock markets could lose as Thursday's trade left contracts in a downward mindset. Cash cattle trade will be heavily watched as northern feedlots are firm thus far on their $165 asking prices.

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