DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

Posted 10:34 -- December corn is up 2 1/2 cents per bushel, November soybeans are up 17 1/4 cents, December KC wheat is up 4 cents, December Chicago wheat is down 1/4 cent and December Minneapolis wheat is up 1 cent. The Dow Jones Industrial Average is up 207.01 points and October crude oil is up $1.51 per barrel. The U.S. Dollar Index is down 0.110 and December gold is up $11.90 per ounce. The impressive rally has reignited in soybeans, led by meal and bean oil. China's return to buy more U.S. soybeans early Wednesday has become expected, but the more than 50-cent discount to Brazil suggests that we will see more of this. Funds are undoubtedly again adding to their growing net long position ahead of the harvest of 4.3 billion bushels of beans. Demand is winning the supply/demand battle right now.

Posted 09:38 -- December corn is up 2 1/4 cents per bushel, November soybeans are up 16 cents, December KC wheat is up 6 cents, December Chicago wheat is up 2 cents and December Minneapolis wheat is up 3 3/4 cents. The Dow Jones Industrial Average is up 88.77 points and October crude oil is up $0.92 per barrel. The U.S. Dollar Index is up 0.040 and December gold is up $1.90 per ounce. Ethanol production for the week ending Sept. 11 fell by 15,000 barrels per day to 926,000 barrels per day. That is still down nearly 8% from a year ago at this time. Ethanol inventory had a 200,000-barrel draw to 19.8 million barrels compared to 23.2 million a year ago.

Posted 08:39 -- After Wednesday's 8:30 a.m. bell, December corn is up 2 1/2 cents, November soybeans are up 12 1/4 cents and December KC wheat is up 4 cents. Grains are higher with export sales still capturing trader attention near harvest time. At 8 a.m. CDT, USDA announced another 12.0-million-bushel sale of soybeans to China as the country is making no effort to hide behind the unknown label. Outside markets are lightly supportive for commodity prices with the Dow Jones futures up 29 points and the December U.S. dollar index down 0.17. December gold is up $11.70 and October crude oil is up 94 cents.

Livestock

OMAHA (DTN) -- Hesitation started to build throughout Tuesday's trade, but as Wednesday as clipped further into its day, the livestock complex is trading fully lower. The tension with the cash cattle market is only growing thicker as the Fed Cattle Exchange wasn't able to sell any lots Wednesday morning. Although some cattle feedlots have been offered bids, feeders are not interested as they are below their asking prices. October live cattle are down $0.58 at $106.525, October feeder cattle are down $1.25 at $142.45, December lean hogs are down $1.45 at $61.6, December corn is up 3 1/4 cents per bushel and December soybean meal is up $4.80. The Dow Jones Industrial Average is up 213.04 points and NASDAQ is down 16.82 points.

Posted 10:28 -- October live cattle is steady, October feeder cattle are down $0.70 at $143.00, December lean hogs are down $0.83 at $62.22, December corn is up 2 1/4 cents per bushel and December soybean meal is up $4.90. The Dow Jones Industrial Average is up 219.20 points and NASDAQ is up 20.05 points. The Fed Cattle Exchange Auction listed a total of 613 head consisting of lots in Kansas and Texas only, of which no cattle actually sold -- 339 head were listed in Kansas and 274 head were listed in Texas. A total of 359 head were listed as unsold and 254 head were listed as PO (Passed Offer), the offers that were passed were at $102.25. Asking prices ranged from $101 to $104.

Posted 08:38 -- October live cattle are up $0.15 at $107.25, October feeder cattle are up $0.13 at $143.825, December lean hogs are up $0.68 at $63.725, December corn is up 1 1/2 cents per bushel and December soybean meal is up $5.20. The Dow Jones Industrial Average is up 72.36 points and NASDAQ is up 43.57 points. Heading into Wednesday, watching how the day's cash cattle trade pans out will be important as Saturday's kill is anticipated to be much lighter at sub-200,000 head. If that is indeed the case, stronger cash cattle trade this week has just became more unlikely.