DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- December corn is up 2 cents per bushel, November soybeans are up 11 cents, December KC wheat is down 18 cents, September Chicago wheat is down 20 cents and September Minneapolis wheat is down 18 cents. The Dow Jones Industrial Average is down 96.66 points and September crude oil is up $1.45 per barrel. The U.S. Dollar Index is up 0.070 and December gold is down $10.60 per ounce. Wheat markets remain under pressure due to incoming rains for the Southern Plains and the advancing spring wheat harvest, and more Ukraine exports. Soybeans and meal are correcting some to the upside following two days of heavy selling.

P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]

Posted 10:34 -- December corn is down 1/2 cent per bushel, November soybeans are up 4 1/4 cents, December KC wheat is down 25 cents, September Chicago wheat is down 21 1/2 cents and December Minneapolis wheat is down 16 cents. The Dow Jones Industrial Average is down 198.84 points and September crude oil is up $0.81 per barrel. The U.S. Dollar Index is up 0.260 and December gold is down $11.90 per ounce. Corn has given up early gains, and beans and meal are now just slightly higher.

Posted 09:46 -- December corn is up 1 cent per bushel, November soybeans are up 9 cents, December KC wheat is down 20 cents, September Chicago wheat is down 17 cents and December Minneapolis wheat is down 14 1/2 cents. The Dow Jones Industrial Average is down 191.85 points and September crude oil is up $1.57 per barrel. The U.S. Dollar Index is up 0.180 and December gold is down $8.90 per ounce. Ethanol production for the week ending Aug. 12 declined by 39,000 barrels per day, to 983,000 bpd. Ethanol inventory had a minor gain from 23.3 million barrels to 23.4 mb.

Posted 08:37 -- December corn is up 1 1/2 cents per bushel, November soybeans are up 8 1/4 cents, December KC wheat is down 7 1/2 cents, September Chicago wheat is down 6 cents and December Minneapolis wheat is down 7 cents. The Dow Jones Industrial Average is down 188.06 points and September crude oil is up $0.23 per barrel. The U.S. Dollar Index is up 0.250 and December gold is down $5.00 per ounce. Corn and soy are recovering from the early week sell-off, with little news to drive markets, while wheat is lower after overnight strength. Weather for the next week remains bearish, with moderate temperatures and more showers predicted, even for the very dry Southern Plains.

Livestock

Posted 11:41 -- October live cattle are up $0.23 at $145.9, September feeder cattle are up $1.60 at $187.075, October lean hogs are up $0.75 at $97.325, December corn is up 5 cents per bushel and December soybean meal is up $3.30. The Dow Jones Industrial Average is down 209.95 points. So far feedlots have been adamant about getting their full asking price ($143 to $145 in the South; $240-plus in the North) and at this point it is looking like packers are going to have to up their bids if they're going to get any cattle bought. Bids of $150 live and $237 to $238 have been offered in Nebraska, but no one is jumping on those offers.

Posted 08:36 -- October live cattle are down $0.05 at $145.625, September feeder cattle are down $0.70 at $184.775, October lean hogs are steady, December corn is up 2 cents per bushel and December soybean meal is up $4.40. The Dow Jones Industrial Average is down 185.33 points. The livestock contracts are trading mixed at Wednesday's start as the corn market trends slightly higher. The cash cattle market is expected to see more trade develop Wednesday, and prices are expected to be considerably higher given the bids that were offered on Tuesday and passed on. No bids have been renewed at this point.

P[L2] D[728x90] M[320x50] OOP[F] ADUNIT[] T[]
P[R1] D[300x250] M[300x250] OOP[F] ADUNIT[] T[]
P[R2] D[300x250] M[320x50] OOP[F] ADUNIT[] T[]
DIM[1x3] LBL[] SEL[] IDX[] TMPL[standalone] T[]
P[R3] D[300x250] M[0x0] OOP[F] ADUNIT[] T[]