DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is up 3 1/2 cents per bushel, November soybeans are up 16 cents, December KC wheat is up 17 cents, December Chicago wheat is up 18 cents and December Minneapolis wheat is up 9 3/4 cents. The Dow Jones Industrial Average is down 364.12 points and October crude oil is down $0.32 per barrel. The U.S. Dollar Index is down 0.060 and December gold is up $10.90 per ounce. The corn and soy complex rally has become much more dynamic as China continues to buy up U.S. corn and beans and funds add more to their growing net-long in the soy complex. Wheat is along for the ride in a big way Friday as dryness in both southern Russia and Ukraine is getting much more attention. So is dryness in Argentina, where wheat fell to just 14% good-to-excellent from 22% a week ago and 44% a few weeks ago. Also, Russian cash wheat values are soaring.

Posted 10:41 -- December corn is up 3/4 cent per bushel, November soybeans are up 11 cents, December KC wheat is up 13 1/4 cents, December Chicago wheat is up 9 1/4 cents and December Minneapolis wheat is up 6 1/4 cents. The Dow Jones Industrial Average is down 60.30 points and October crude oil is up $0.32 per barrel. The U.S. Dollar Index is down 0.150 and December gold is up $10.90 per ounce. Soybeans and wheat are soaring again Friday morning. Soybeans are getting a lot of support from the surging world veg oil markets, which saw palm oil gap higher for the third time this week.

Posted 08:35 -- December corn is up 1 1/2 cents per bushel, November soybeans are up 11 cents, December KC wheat is up 5 1/4 cents, December Chicago wheat is up 3 3/4 cents and December Minneapolis wheat is up 3 1/4 cents. The Dow Jones Industrial Average is down 18.81 points and October crude oil is up $0.07 per barrel. The U.S. Dollar Index is down 0.040 and December gold is up $5.70 per ounce. Demand continues strong with another three flash sales announced by USDA: Exporters sold 210,000 mt (8.3 million bushels) of corn to China for 2020-21, along with 132,000 mt (4.85 mb) of soybeans to China and 100,000 mt (3.7 mb) of soybeans sold to "unknown" destination.

Livestock

Posted 11:35 -- December live cattle are up $0.85 at $112.175, October feeder cattle are up $1.58 at $143.025, December lean hogs are down $0.48 at $63.15, December corn is up 1 3/4 cents per bushel and December soybean meal is up $6.40. The Dow Jones Industrial Average is down 76.04 points and NASDAQ is down 128.42 points. The board's midmorning shift to higher prices complimented the cash cattle market and sent dressed cattle prices in Nebraska $2.00 higher than Thursday's trade and $4.00 higher than last week's average. The cattle market's support is coming as a pleasant surprise, and even though the lean hog market is trading lower, its losses remain mild. With news about another round of CFAP payments, wide-spread support could carry over into the lean hog complex before the day is over.

Posted 10:37 -- December live cattle are up $1.08 at $112.4, October feeder cattle are up $1.45 at $142.9, December lean hogs are down $0.50 at $63.125, December corn is steady and December soybean meal is steady. The Dow Jones Industrial Average is down 45.67 points and NASDAQ is down 89.47 points. Friday has been a day of change as cattle contracts are scaling higher and the lean hog sector is trailing lower. Cash cattle trade is relatively quiet, though a few bids have surfaced in Nebraska for $165. More trade is expected to surface before the day's end, especially in the North.

Posted 08:35 -- December live cattle are up $0.15 at $111.475, October feeder cattle are up $0.20 at $141.65, December lean hogs are up $0.55 at $64.175, December corn is up 1 1/4 cents per bushel and December soybean meal is up $4.90. The Dow Jones Industrial Average is down 13.47 points and NASDAQ is up 60.30 points. Rounding up this week's trade, the contracts are expected to trade how they have most of the week; cattle contracts down, lean hogs up. The cash cattle market should see some more trade develop as this week's movement has been relatively light.

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