DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is up 6 3/4 cents per bushel, November soybeans are up 1 1/2 cents, December KC wheat is up 4 3/4 cents, December Chicago wheat is down 1 3/4 cents and December Minneapolis wheat is up 5 1/2 cents. The Dow Jones Industrial Average is up 39.54 points and December crude oil is up $0.86 per barrel. The U.S. Dollar Index is up 0.150 and December gold is down $15.00 per ounce. Soybeans have given up much of the early strength, and bean oil is moving lower. Minneapolis December wheat has fallen 16 cents below the new contract high, and highest price for spot futures in more than a decade. Corn is still firm and trading just below the 100-day moving average.

Posted 10:31 -- December corn is up 4 1/2 cents per bushel, November soybeans are up 3/4 cent, December KC wheat is up 3 1/4 cents, December Chicago wheat is down 2 1/4 cents and December Minneapolis wheat is up 14 1/4 cents. The Dow Jones Industrial Average is up 133.39 points and December crude oil is up $0.68 per barrel. The U.S. Dollar Index is up 0.140 and December gold is down $17.70 per ounce. Minneapolis spot wheat futures have again made a new contract high and reached the highest level since June of 2011. Corn futures have also rallied, with December's next challenge the key resistance area of $5.50. Soybeans and meal are under pressure, while beans trade near unchanged, despite new sales of nearly 12 mb.

Posted 08:32 -- December corn is down 3 cents per bushel, November soybeans are down 4 1/4 cents, December KC wheat is down 7 cents, December Chicago wheat is down 7 3/4 cents and December Minneapolis wheat is down 6 1/4 cents. The Dow Jones Industrial Average is up 88.22 points and December crude oil is down $0.01 per barrel. The U.S. Dollar Index is up 0.000 and December gold is down $10.70 per ounce. We finally got some confirmation of much-rumored sales of U.S. soybeans to China: China bought 199,000 mt (7.3 million bushels) of U.S. soybeans for 2021-22 and Mexico bought another 125,730 mt (4.6 mb) of U.S. soybeans for 2021-22. One would have to guess that there is more China business to be announced soon.

Livestock

Posted 11:43 -- December live cattle are up $1.23 at $130.75, January feeder cattle are up $1.00 at $159.575, December lean hogs are down $1.43 at $72.775, December corn is up 8 1/2 cents per bushel and December soybean meal is up $0.90. The Dow Jones Industrial Average is up 29.99 points and NASDAQ is up 47.09 points. As Tuesday has progressed, the confidence in the live cattle complex has grown in strength. If the market can keep its current gains through the afternoon's close, feeders may feel confident in demanding higher cash cattle prices this week. The lean hog market has run in the opposite direction and the market isn't likely to find much support before the day's end.

Posted 08:43 -- December live cattle are down $0.03 at $129.5, January feeder cattle are up $0.23 at $158.8, December lean hogs are down $1.50 at $72.7, December corn is down 2 3/4 cents per bushel and December soybean meal is down $2.10. The Dow Jones Industrial Average is up 86.75 points and NASDAQ is up 84.26 points. The live cattle contracts are uneasy, figuring out if the complex should strive to keep Monday's positive momentum, which was largely spurred on by Friday's bullish Cattle on Feed report. Meanwhile, the feeder cattle contracts are seeing modest gains as the corn complex opens to weaker trade. The weaker placements seen on the most recent COF report gave the market some leverage to use early this week.

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