DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is up 3 1/2 cents per bushel, November soybeans are down 2 cents per bushel. December KC wheat is steady, December Chicago wheat is down 5 1/2 cents per bushel and December Minneapolis wheat is up 4 cents. The Dow Jones Industrial Average is down 211.18 points at 34,413.12 and the U.S. Dollar Index is down 0.120 at 105.08 and November crude oil is down $0.02 per barrel at $90.56. Corn and Minneapolis wheat are trading a bit higher still, but soybeans have gone negative again. Funds are reported to have bought corn while selling wheat and soybeans. The forecast starting Thursday features frequent showers in the Plains and Western Corn Belt, with heavier rains also likely in the Northern Plains and Upper Midwest, slowing harvest activity.

Posted 10:31 -- December corn is up 3 3/4 cents per bushel, November soybeans are unchanged. December KC wheat is up 1/4 cent per bushel, December Chicago wheat is down 1 3/4 cents per bushel and December Minneapolis wheat is unchanged. The Dow Jones Industrial Average is down 238.26 points at 34,386.04 and The U.S. Dollar Index is down 0.080 at 105.13 and November crude oil is up $1.22 per barrel at $91.80. At midmorning in very slow trade, all of the grain and soy markets have pared some of the early losses. Corn, soybeans, and KC wheat are now trading higher. Harvest is moving ahead but will be interrupted by some heavier showers beginning Thursday for the Plains and western belt.

Posted 08:35 -- December corn is down 1 3/4 cents per bushel, November soybeans are down 5 3/4 cents per bushel. December KC wheat is down 3 1/4 cents per bushel, December Chicago wheat is down 1 3/4 cents per bushel and December Minneapolis wheat is down 3 3/4 cents. The Dow Jones Industrial Average is down 34.23 points at 34,590.07 and The U.S. Dollar Index is down 0.230 at 104.98 and November crude oil is up $1.30 per barrel at $91.88. Grain and soy markets are lower to begin, weakened by the advancing harvest in corn and beans, and weak world wheat values and more rain headed for the southwest impacting wheat. The Federal Reserve will meet Tuesday-Wednesday to decide on further interest rate adjustments.

Livestock

Posted 11:25 -- December live cattle are down $0.48 at $190.525, October feeder cattle are down $1.15 at $259.8, October lean hogs are up $1.75 at $85., December corn is up 4 3/4 cents per bushel and December soybean meal is up $2.10. The Dow Jones Industrial Average is down 268.04 points. The lean hog contracts are trading higher into Tuesday's noon hour while the cattle contracts remain cautious. The hog complex could run into resistance pressure later Tuesday or potentially Wednesday, at which point traders will have to determine if the market's slight uptick in fundamental support is enough to justify breaking through resistance barriers.

Posted 08:37 -- December live cattle are down $0.05 at $190.95, October feeder cattle are up $0.60 at $261.55, October lean hogs are up $0.25 at $83.5, December corn is down 2 1/4 cents per bushel and December soybean meal is down $2.00. The Dow Jones Industrial Average is down 37.18 points. The feeder cattle and lean hog contracts are trading while the live cattle complex continues to trade mildly lower. Finding support fundamentally in this week's market will be vital for traders' confidence.

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