DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- As we near Friday's close, the commodity board remains completely red, except for small gains in canola and orange juice. December corn is down 8 1/2 cents and November soybeans are down 27 3/4 cents. November crude oil is down $4.70, trading at its lowest prices since before Russia invaded Ukraine and is pulling December soybean oil down 2.39 cents. December KC wheat is down 24 3/4 cents and December Minneapolis wheat is down 22 cents, while the U.S. Dollar Index is up 1.48 extending its highest prices in 20 years. Dow Jones futures are down 638 points, and December gold is down $26.

Posted 10:48 -- At mid-morning Friday, the commodity board is still almost universally red, but losses in grains have eased somewhat. December corn is down 11 1/4 cents and November soybeans are down 26 cents. December KC wheat is down 22 1/4 cents and December Minneapolis wheat is down 21 3/4 cents. Noncommercial selling continues to dominate Friday's trading after several central banks follow the Federal Reserve's lead on Wednesday and also raised interest rates, increasing concerns of slower economic growth ahead. November crude oil is down $4.34 and Dow Jones futures are down 453 points. The U.S. Dollar Index is up 1.28, extending its highest prices in 20 years.

Posted 08:38 -- After Friday's 8:30 a.m. CDT open, nearly the entire commodity board is red, worried about higher interest rates and slowing economies. Crop prices are no exception with December corn is down 15 1/2 cents and November soybeans are down 26 1/2 cents. December KC wheat is down 20 1/4 cents and December Minneapolis wheat is down 19 1/2 cents. November crude oil is down $4.18, near its lowest prices this year. Dow Jones futures are down 298 points and the U.S. Dollar Index is up 0.78, pushing its highest prices in 20 years. December gold is down $21.30.

Livestock

Posted 11:44 -- December live cattle are down $0.85 at $148.5, October feeder cattle are up $0.05 at $178.025, December lean hogs are down $2.55 at $83.125, December corn is down 13 1/2 cents per bushel and December soybean meal is down $6.80. The Dow Jones Industrial Average is down 698.62 points. Some of the lean hog market's pressure could be stemming from the Chinese report that they'll be releasing more pork from their reserves to help tame rising prices, reported Pigs333. This is the third batch that the Chinese government has released in the last month. Meanwhile both the live cattle and feeder cattle markets are trending lower as the cattle complex anxiously awaits to see Friday afternoon's Cattle on Feed Report.

OMAHA (DTN) -- December live cattle are down $0.50 at $148.85, October feeder cattle are up $0.88 at $178.85, December lean hogs are down $0.80 at $84.875, December corn is down 15 3/4 cents per bushel and December soybean meal is down $7.50. The Dow Jones Industrial Average is down 286.58 points. Following Thursday's lower close, both the live cattle and lean hog contracts are trending lower at Friday's start. The good news however is that with the corn market trending $0.15 to $0.16 lower at the day's start, the feeder cattle complex is trading higher. The cash cattle market may see a little bit of clean up trade develop throughout the day, but largely it's likely that the bulk of the week's trade is done with.