DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 1 cent per bushel, January soybeans are up 1 1/4 cents, December KC wheat is down 3 cents, December Chicago wheat is down 5 1/2 cents and December Minneapolis wheat is down 1 cent. The Dow Jones Industrial Average is down 413.34 points and December crude oil is down $0.80 per barrel. The U.S. Dollar Index is up 0.110 and December gold is up $10.20 per ounce. Corn and soybeans continue to gravitate around unchanged, as bearish macro markets have encouraged fund managers to lighten their long load ahead of next week's uncertain election. Strong demand and the current dominance of U.S. corn and bean export prices have provided underlying support. Rumors are floating around about China buying U.S. DDGs (unconfirmed).

Posted 10:38 -- December corn is down 1 3/4 cents per bushel, January soybeans are up 1 1/2 cents, December KC wheat is down 5 1/4 cents, December Chicago wheat is down 6 1/4 cents and December Minneapolis wheat is down 3 1/4 cents. The Dow Jones Industrial Average is down 393.75 points and December crude oil is down $0.85 per barrel. The U.S. Dollar Index is down 0.040 and December gold is up $9.70 per ounce. The ag markets have now fallen from morning highs, pressured by the continuing slide in outside macro markets, with equities and energies extending this week's slide ahead of the election. It would appear that, despite the bullish export pace of both corn and beans, funds may want to reduce their long exposure ahead of next week's election.

Posted 08:35 -- December corn is up 3/4 cent per bushel, January soybeans are up 10 1/2 cents, December KC wheat is up 6 1/4 cents, December Chicago wheat is up 2 1/2 cents and December Minneapolis wheat is up 4 3/4 cents. The Dow Jones Industrial Average is down 124.66 points and December crude oil is down $0.38 per barrel. The U.S. Dollar Index is down 0.180 and December gold is up $21.20 per ounce. USDA announced another new sale of soybeans: 121,500 mt (4.5 mb) of soybeans were sold to unknown. The ag markets, led by the soy complex, is attempting to retrace some of the recent losses. A return to dryness projected for Argentina and southern Brazil appears to be the driving force.

Livestock

Posted 11:36 -- December live cattle are down $0.18 at $107.8, January feeder cattle are up $0.88 at $132.225, December lean hogs are up $0.68 at $66.3, December corn is down 1 1/4 cents per bushel and December soybean meal is down $2.00. The Dow Jones Industrial Average is down 242.56 points and NASDAQ is down 239.75 points. The live cattle contracts are facing a little pressure as the day nears noon, but both the feeder cattle and lean hog markets are trading steadily higher. Cash cattle bids are starting to pop and draw more packer interest, but feedlots have yet to jump on those offers.

Posted 10:31 -- December live cattle are up $0.15 at $108.125, January feeder cattle are up $0.93 at $132.275, December lean hogs are up $0.85 at $66.475, December corn is down 1 1/2 cents per bushel and December soybean meal is down $0.20. The Dow Jones Industrial Average is down 363.14 points and NASDAQ is down 303.84 points. There are a few more scattered bids on the table as packer inquiry continues to improve. Bids of $106 are offered in Kansas, as well as $104 in Nebraska live and $162 in Nebraska dressed. Bids should continue to develop are the day nears the noon hour. Meanwhile, the entire livestock complex has headed for higher prices as even the lean hog complex is trading near $1.00 strong in nearby contracts.

Posted 08:34 -- December live cattle are up $0.18 at $108.15, January feeder cattle are up $0.63 at $131.975, December lean hogs are up $0.70 at $66.325, December corn is up 1/2 cent per bushel and December soybean meal is up $3.30. The Dow Jones Industrial Average is down 71.01 points and NASDAQ is down 64.68 points. Heading into Friday, cattle contracts are hopeful to round out the week with the same support they've had throughout the earlier part of the week. As Thursday's boxed beef prices printed higher, feedlots are hopeful to push packers to buying at steady prices if not $1.00 higher. Lean hogs are trading modestly higher Friday morning, but given the pressure from top resistance, the complex could trade lower again.

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