DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- As we near Tuesday's close, corn and soybeans are holding firm, while wheat prices are mixed and the U.S. dollar is lower. December corn is up 5 1/4 cents and November soybeans are up 11 1/4 cents. December KC wheat is up 7 3/4 cents, engaged in a tug of war, while planting conditions remain dry for the next winter crop. December Minneapolis wheat is up 2 1/2 cents. November crude oil is up $2.85 with traders looking confident about a possible production cut in Wednesday's OPEC meeting. Dow Jones futures are up 652 points, a second day higher to start the fourth quarter. The U.S. Dollar Index is down 1.34 and December gold is up $28.70.

Posted 10:40 -- At midmorning Tuesday, December corn is up 5 1/4 cents and November soybeans are up 14 1/4 cents, continuing to find support in spite of increased harvest activity. Higher trade in December soybean oil finding support from Tuesday's gains in both, palm oil and crude oil. December KC wheat is down 1/4 cents and December Minneapolis wheat is down 4 3/4 cents. November crude oil is up $2.91, ahead of Wednesday's OPEC meeting where a possible production cut is being talked about. Dow Jones futures are up 781 points and the U.S. Dollar Index is down 1.36, big reactions to last week's more bearish mood.

Posted 08:35 -- After Tuesday's 8:30 a.m. CDT open, nearly the entire commodity board is starting green with U.S. stocks and bonds showing another break from interest rate worries, a risk-on start to the day. December corn is up 4 1/2 cents and November soybeans are up 16 1/4 cents after USDA said 20% of corn and 22% of soybeans were harvested as of Sunday. December KC wheat is up 18 3/4 cents and December Minneapolis wheat is up 14 1/2 cents. USDA said 40% of the winter wheat crop has been planted. There are light to moderate showers expected in the southwestern Plains this week, but the region needs much more. November crude oil is up $2.23 and Dow Jones futures are up 385 points. The U.S. Dollar Index is down 0.73 and December gold is up $14.60.

Livestock

Posted 11:43 -- December live cattle are down $0.53 at $147.5, November feeder cattle are down $0.93 at $175.125, December lean hogs are down $1.95 at $75.775, December corn is up 3 3/4 cents per bushel and December soybean meal is down $2.40. The Dow Jones Industrial Average is up 806.28 points. Slightly higher corn prices have both the live and feeder cattle contracts trading lower into Tuesday afternoon. The cash cattle market hasn't seen any interest arise at this point, but feedlots are hopeful that with boxed beef prices trending higher they'll be able to get more money when it comes time to trade cattle.

Posted 08:35 -- December live cattle are up $0.28 at $148.3, November feeder cattle are up $0.25 at $176.3, December lean hogs are up $0.50 at $78.225, December corn is up 3 cents per bushel and December soybean meal is up $2.30. The Dow Jones Industrial Average is up 400.52 points. The entire livestock complex is again trading higher Tuesday morning, showing that the market is indeed ready to rebound from last week's deterioration. Asking prices in the South are noted at $145, and the North has yet to disclose their asking price, but feedlots are expected to price all cattle higher this week.

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