DTN's Quick Takes

By DTN Analysts

Grains

Posted 10:30 -- December corn is down 1 1/4 cents per bushel, January soybeans are down 7 cents, December KC wheat is up 14 3/4 cents, December Chicago wheat is up 9 1/2 cents and December Minneapolis wheat is up 16 cents. The Dow Jones Industrial Average is up 204.3 points and December crude oil is up $0.91 per barrel. The U.S. Dollar Index is down 0.480 and December gold is up $5.70 per ounce. Corn remains steady, wheat prices have extended earlier gains and soybean prices given up earlier gains. Weekly export inspections, for the week ending Nov. 3, saw disappointing volumes of 9.1 mb of corn and 6.7 mb of wheat inspected, while soybean inspections remained high at 95.2 mb. Cumulative volumes inspected for row crops remain behind the USDA's estimated pace, while cumulative wheat inspections are ahead of the USDA's estimated pace.

Posted 08:35 -- December corn is down 1 1/4 cents per bushel, January soybeans are up 3 1/4 cents, December KC wheat is up 9 cents, December Chicago wheat is up 5 3/4 cents and December Minneapolis wheat is up 11 cents. The Dow Jones Industrial Average is up 158.43 points and December crude oil is up $0.10 per barrel. The U.S. Dollar Index is down 0.570 and December gold is up $6.80 per ounce. In very quiet trade, grain and soybeans start mixed, with soybeans and products firmer, and wheat and corn mixed. A host of important reports are out this week, with USDA's November report on Wednesday, and the CPI inflation on Thursday. Prior to that -- Tuesday's mid-term elections. Volatility should remain high.

Posted 19:17 Sunday -- December corn is down 3 3/4 cents per bushel, January soybeans are down 10 1/2 cents, December Kansas City wheat is down 5 1/4 cents, December Chicago wheat is down 4 1/2 cents and December Minneapolis wheat is down 3 3/4 cents. The Dow Jones Industrial Average is up 401.97 points and December crude oil is down $1.25 per barrel. The U.S. Dollar Index is up 0.210 and December gold is down $0.30 per ounce. Corn and soy futures are lower on profit-taking, while wheat is lower as well. There's no real news other than China continuing their zero-COVID policy. In wheat, both Egypt and Algeria are tendering for wheat..

Livestock

OMAHA (DTN) -- December live cattle are up $0.98 at $152.625, January feeder cattle are down $0.18 at $179.45, December lean hogs are up $3.43 at $86.4, December corn is down 3 cents per bushel and December soybean meal is down $3.90. The Dow Jones Industrial Average is up 241.23 points. New showlists appear to be mixed, higher in Texas but lower in Kansas, Nebraska and Colorado. The livestock contracts are trending higher into Monday's afternoon as the market finds ample support from traders and, so long as the market's fundamentals perform favorably Monday afternoon, a stronger close isn't out of the question.

Posted 08:38 -- December live cattle are up $0.10 at $151.75, January feeder cattle are up $0.05 at $179.675, December lean hogs are up $0.55 at $83.525, December corn is down 2 1/4 cents per bushel and December soybean meal is up $1.40. The Dow Jones Industrial Average is up 155.94 points. As Monday's trade begins to develop, the livestock complex will again search for fundamental clues as to how this week's trade should pan out. At Monday's start, all three of the livestock markets are trading higher, which could continue as corn prices are slightly lower.

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This year's DTN Ag Summit will be conducted virtually on the mornings of December 12-13, 2022. Please join us for DTN lead analyst Todd Hultman's insights into how long these high crop prices will last and what to watch for in the year ahead. Full details available at www.dtn.com/agsummit

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