DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- December corn is up 10 cents per bushel, November soybeans are up 12 cents, December KC wheat is up 12 cents, December Chicago wheat is up 9 cents and December Minneapolis wheat is up 13 cents. The Dow Jones Industrial Average is up 361.10 points and November crude oil is up $0.91 per barrel. The U.S. Dollar Index is up 0.010 and December gold is down $28.80 per ounce. Grain and soy futures are flying higher on a pick-up in export demand, as both U.S. corn and soybeans are the world's bargain buys, and China appears to be back in the game. In wheat, rumors continue about China buying several cargoes of French wheat and possibly some U.S. soft red winter. NOPA crush came in lighter than expected, but solid crush margins ensure that processors will be running strong.

Posted 10:33 -- December corn is up 8 1/2 cents per bushel, November soybeans are up 9 3/4 cents, December KC wheat is up 14 1/4 cents, December Chicago wheat is up 12 1/2 cents and December Minneapolis wheat is up 17 1/2 cents. The Dow Jones Industrial Average is up 293.76 points and November crude oil is up $1.00 per barrel. The U.S. Dollar Index is down 0.020 and December gold is down $24.40 per ounce. Grain and the soy complex are rising in unison as low prices seem to have stirred up import interest on both corn and soybeans. In the past three days we have seen 56 million bushels of new soy sales to China and unknown combined. U.S. corn should have a big advantage in world markets as well. Minneapolis wheat continues to print new contract highs.

Posted 08:32 -- December corn is up 6 1/2 cents per bushel, November soybeans are up 7 3/4 cents, December KC wheat is up 12 cents, December Chicago wheat is up 10 cents and December Minneapolis wheat is up 11 1/4 cents. The Dow Jones Industrial Average is up 199.59 points and November crude oil is up $0.79 per barrel. The U.S. Dollar Index is up 0.030 and December gold is down $28.50 per ounce. USDA announced three new soybean sales early on Friday: 396,000 mt (14.6 mb) of soybeans to unknown, 326,750 mt (12 mb) of soybeans to unknown and 132,000 mt (4.85 mb) of soybeans to China -- all for 2021-22. That is nearly 56 mb of new sales announced to China/unknown in the past three days.

Livestock

Posted 11:51 -- October live cattle are up $0.20 at $125.95. October feeder cattle are down $0.42 at $158.00. December lean hogs are up $0.32 at $77.65. December corn gained 10 1/4 cents at $5.27 per bushel. December soybean meal is up $2.90 at $317 per ton. The Doe is up 266 points with the NASDAQ up 48 points. Live cattle are holding gains while feeder cattle have been trading in negative territory all day. Cattle slaughter is projected at 109,000 today. Boxed beef is higher on the Friday morning report with choice up $0.97 and select up $0.80. Hog futures have significantly trimmed their gains as underlying fundamentals still do not provide much support. Cutouts are lower on the Friday morning national daily report.

Posted 09:21 -- October live cattle down $0.05 at $125.70. October feeder cattle are down $0.77 at $157.65. December lean hogs are up $1.22 at $78.55. December corn is up 11 1/2 at $5.28 1/4 per bushel. December soybean meal is up $4.60 per ton at $318.70. The Dow is up 310 points. The NASDAQ is up 47 points. The dollar is up 3 points. Live cattle are trying to hold the gains of Thursday with traders hoping for possibly higher cash cattle trade and higher cutouts. Beef export sales totaled 15,700 mt, up 1% from last week and basically unchanged from the four-week average. Japan was the largest buyer with China as the second largest. Hogs post triple-digit gains rebounding from the weakness of this week. Aggressive buying may be tied to it being the end of the week as some short covering is taking place. Pork export sales totaled 33,500 mt, up 51% from the previous week and up 9% from the four-week average. China was listed as the third largest buyer.