DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
Posted 12:48 -- December corn is up 1 1/2 cents per bushel, November soybeans are down 1/2 cent per bushel. December KC wheat is up 1 3/4 cents per bushel, December Chicago wheat is up 7 3/4 cents per bushel and December Minneapolis wheat is down 2 cents. The Dow Jones Industrial Average is down 39.48 points at 33,924.36 and The U.S. Dollar Index is up 0.380 at 105.96 and November crude oil is down $0.17 per barrel at $89.86. Corn, soybean, and wheat markets have recovered from early weakness, while soymeal is higher but bean oil still trading sharply lower. KC December wheat, which fell to another new low, found some weekly chart support at the $7.00 level. There are plenty of weather issues around which could further cut major exporter wheat supplies.
Posted 10:36 -- December corn is down 2 3/4 cents per bushel, November soybeans are down 4 1/2 cents per bushel. December KC wheat is down 4 cents per bushel, December Chicago wheat is up 2 cents per bushel and December Minneapolis wheat is down 4 1/2 cents. The Dow Jones Industrial Average is down 49.63 points at 33,914.21 and The U.S. Dollar Index is up 0.400 at 105.98 and November crude oil is down $0.61 per barrel at $89.42. In quiet, early-week trade, the soybean market has recovered a bit from the lows, while corn traders seem to be ignoring the large sale of over 65 mb of corn to Mexico. December soybean oil, which had a positive close Friday, has resumed the downtrend and is currently down sharply.
Posted 08:34 -- December corn is up 1/4 cent per bushel, November soybeans are down 4 1/2 cents per bushel. December KC wheat is down 2 cents per bushel, December Chicago wheat is up 3 1/2 cents per bushel and December Minneapolis wheat is down 2 cents. The Dow Jones Industrial Average is down 68.94 points at 33,894.90 and The U.S. Dollar Index is up 0.290 at 105.87 and November crude oil is up $0.18 per barrel at $90.21. USDA announced a new corn sale to Mexico: 41.3 mb for 2023-24 and another 24 mb for 2024-25. Grain and soy markets are mixed to lower early Monday, with corn getting only a modest boost from the sizable sale above.
Posted 19:08 Sunday -- After the Sunday evening open, grains are off to a quiet start. Rains fell during the weekend from Montana to Wisconsin and near western Missouri and eastern Oklahoma, allowing for corn and soybean harvest elsewhere. December corn is down 3/4 cent and November soybeans are up 3/4 cent. December Kansas City wheat is down 1/2 cent and December Minneapolis wheat is down 2 cents. November crude oil is up $0.52 and Dow Jones futures are up 34 points, finding early support after last week's lower performance. The U.S. Dollar Index is down 0.01 and December gold is down $1.60.
LivestockOMAHA (DTN) -- December live cattle are down $0.20 at $191.15, November feeder cattle are down $0.88 at $262.65, December lean hogs are up $0.43 at $72.6, December corn is down 1/4 cent per bushel and December soybean meal is up $2.10. The Dow Jones Industrial Average is up 10.06 points. Last week's negotiated cash cattle trade totaled 87,245 head. Of that 77% (67,449 head) were committed for nearby delivery, while the remaining 23% (19,796 head) were committed for deferred delivery.
Posted 08:38 -- December live cattle are down $0.45 at $190.9, November feeder cattle are down $1.20 at $262.325, December lean hogs are down $0.08 at $72.1, December corn is up 3/4 cent per bushel and December soybean meal is up $2.00. The Dow Jones Industrial Average is down 66.21 points. The livestock complex is off to a cautious and ginger start as all three of the market's open lower Monday morning. It will be interesting to see exactly how many cattle were bought last week in the cash market as by Friday's end the market's volume was still thin.
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