DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 2 1/4 cents per bushel, November soybeans are down 1/2 cent per bushel. December KC wheat is down 18 1/2 cents per bushel, December Chicago wheat is down 16 cents per bushel and December Minneapolis wheat is down 16 cents. The Dow Jones Industrial Average is up 177.32 points at 41,571.10. The U.S. Dollar Index is down 0.340 at 100.77. October crude oil is up $1.49 per barrel at $70.14. As we head into the close, soybeans have rallied back to near unchanged, and soy products are higher, while corn is modestly lower, and wheat is still down sharply. There is a dearth of news on Monday, but in wheat it just feels like some profit-taking after the rally in the past few weeks.

Posted 10:38 -- December corn is down 3 1/2 cents per bushel, November soybeans are down 1 1/2 cents, December KC wheat is down 20 3/4 cents, December Chicago wheat is down 19 cents and December Minneapolis wheat is down 18 1/2 cents. The Dow Jones Industrial Average is up 68.82 points. The U.S. Dollar Index is down 0.360 and October crude oil is up $1.09 per barrel. Gulf oil production is coming back online after Francine and now the oil market is looking ahead to the Federal Reserve meeting starting Tuesday. The corn market is following wheat lower but is under pressure from talk of high yields in the ECB where harvest has started. Wheat markets are lower as profit taking is featured thanks to the strong gains for all three wheat markets last week.

Posted 08:40 -- December corn is down 1 1/4 cents per bushel, November soybeans are up 4 cents per bushel. December KC wheat is down 7 cents per bushel, December Chicago wheat is down 6 1/2 cents per bushel and December Minneapolis wheat is down 5 cents. The Dow Jones Industrial Average is up 227.14 points at 41,620.92. The U.S. Dollar Index is down 0.460 at 100.65. October crude oil is up $1.55 per barrel at $70.20. The USDA announced a new sale of 132,000 mt (4.85 mb) of soybeans to unknown destinations for 2024-25. Wheat and corn are lower, while soybeans and products have moved higher early Monday on a quiet news day.

Posted 09/16/24 19:07 -- December corn is down 1 3/4 cents per bushel, November soybeans are down 3/4 cent per bushel. December KC wheat is down 2 1/2 cents per bushel, December Chicago wheat is down 1 1/4 cents per bushel and December Minneapolis wheat is down 5 cents. The Dow Jones Industrial Average is up 38 points at 41,465 and the U.S. Dollar Index is down 0.110 at 101.00 and October crude oil is up $0.21 per barrel at $68.86. Grain and soy markets open mixed with corn and wheat lower and beans near unchanged. Some heavy rain fell on the weekend in the Southeast, but the central U.S. remains mostly warm and dry for the next five to six days before a system forms in the northern Plains and moves into the Plains. Funds continued to liquidate short positions last week, buying 44,000 corn but remaining short 132,000 contracts.

Livestock

Posted 11:36 -- October live cattle are down $0.33 at $177.325, October feeder cattle are up $0.15 at $239.275, October lean hogs are up $0.98 at $79.425, December corn is down 3 1/4 cents per bushel and December soybean meal is down $1.20. The Dow Jones Industrial Average is up 141.32 points. Last week's negotiated cash cattle trade totaled 61,496 head. Of that 83% (51,181 head) were committed to the nearby delivery, while the remaining 17% (10,315 head) were committed to the deferred delivery.

Posted 08:42 -- October live cattle are up $0.30 at $177.95, October feeder cattle are up $0.55 at $239.675, October lean hogs are up $0.45 at $78.9, December corn is down 1 1/2 cents per bushel and December soybean meal is up $2.30. The Dow Jones Industrial Average is up 223.95 points. The livestock complex is off to a mostly higher start again this morning as traders reevaluate the marketplace. It will be interesting to see just how many cattle packers got bought last week as prices were able to hold mostly steady and if they didn't get too many bought with the deferred delivery option -- there's a chance that prices could hold steady again this week.

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