DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

Posted 10:31 -- December corn is down 1 3/4 cents per bushel, November soybeans are down 1 cent, December KC wheat is up 3/4 cent, December Chicago wheat is down 3 1/2 cents and December Minneapolis wheat is down 1 3/4 cents. The Dow Jones Industrial Average is down 200.56 points and October crude oil is down $0.71 per barrel. The U.S. Dollar Index is up 0.360 and December gold is down $39.50 per ounce. All of the grain markets have retreated from overnight highs, with corn leading the way. However, December remains nearly 35 cents higher than the Friday low. An active weekend of harvesting lies ahead. A positive is the report that 14 grain vessels are loading for export at reopened Gulf terminals, according to barge line operators.

Posted 08:33 -- December corn is up 1 1/2 cents per bushel, November soybeans are up 7 1/4 cents, December KC wheat is up 1/2 cent, December Chicago wheat is down 1 1/4 cents and December Minneapolis wheat is up 1/2 cent. The Dow Jones Industrial Average is up 66.59 points and October crude oil is down $0.15 per barrel. The U.S. Dollar Index is up 0.370 and December gold is down $38.40 per ounce. After Wednesday's cancellation of a combined 328,000 mt (12 mb) of sales to China and unknown, USDA announced a new sale of 132,000 mt (4.85 mb) of soybeans to China for 2021-22. Soybean futures are getting a little bounce from the news.

Livestock

OMAHA (DTN) -- October live cattle or down $123.70. September feeder cattle are up $0.60 at $155.32. October hogs are up $3.00 at $85.27. December corn is down 2 1/2 at $5.38 1/2. October soybean meal is up $3.00 at $339.10 per ton. The Dow is down 180 points while the NASDAQ is down 67 points. Cattle have been unable to shed losses as demand remains in question. Boxed beef prices continue to decline with choice down $1.58 and select down $2.09 on the Thursday morning boxed beef report. Hogs turned higher with cutouts higher on the Thursday morning National Daily Pork report. Futures have regained the losses of the past week as traders turn more optimistic over cash prices.

Posted 09:10 -- October live cattle are down $0.25 at $123.92. September feeder cattle ae up $0.02 at $154.75. October lean hogs are up $0.12 at $82.40. December corn is down 3 cents $5.38 3/4. October soybean meal is up $3.60 at $339.50. The Dow is down is down 92 points. The NASDAQ is down 82 points. The dollar is up 40 points. Live cattle have not been able to continue the trend higher and are under pressure for the second day. The stage has been set for cash this week seeing no better than steady cash. Hogs are following a similar pattern as Wednesday with October higher and December through April lower as spread trading continues. Packers are expected to limit spending again as market ready hogs are plentiful.