DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 7 1/4 cents per bushel, November soybeans are down 1/4 cent per bushel. December KC wheat is down 13 3/4 cents per bushel, December Chicago wheat is down 11 cents per bushel and December Minneapolis wheat is down 9 1/4 cents. The Dow Jones Industrial Average is up 641.87 points at 42,144.97. The U.S. Dollar Index is up 0.090 at 100.69. November crude oil is up $1.31 per barrel at $71.19. Heading into the close, wheat and corn are under heavy pressure while beans are near unchanged and soy products modestly higher. There is little news other than possible hedge pressure and better rain chances for the hard wheat belt.

Posted 10:33 -- December corn is down 6 3/4 cents per bushel, November soybeans are down 1 3/4 cents per bushel. December KC wheat is down 11 3/4 cents per bushel, December Chicago wheat is down 10 1/2 cents per bushel and December Minneapolis wheat is down 8 1/2 cents. The Dow Jones Industrial Average is up 430.06 points at 41,933.16. The U.S. Dollar Index is up 0.160 at 100.76. November crude oil is up $1.31 per barrel at $71.19. At midmorning all the markets except for bean oil are under pressure. Kansas City December wheat on its fourth straight day of weaker prices has once again fallen below the 50-day moving average with December corn just 2 cents above. Harvest pressure is likely trumping seasonal strength and some positive technical signals of the past week. Rain is headed for the Corn Belt and likely to delay harvest activity for a bit.

Posted 08:37 -- December corn is down 4 1/4 cents per bushel, November soybeans are down 3/4 cent per bushel. December KC wheat is down 7 1/4 cents per bushel, December Chicago wheat is down 7 cents per bushel and December Minneapolis wheat is down 5 3/4 cents. The Dow Jones Industrial Average is up 548.07 points at 42,051.17. The U.S. Dollar Index is up 0.340 at 100.94. November crude oil is up $0.54 per barrel at $70.42. Grain and soy markets are lower with the exception of soybean oil. Wheat and corn are under heavy pressure, while November beans are gravitating around the 50-day moving average. Rumored sales of U.S. soybeans to China have not been confirmed.

Livestock

Posted 11:43 -- December live cattle are up $1.50 at $181.35, October feeder cattle are up $3.45 at $243.4, October lean hogs are up $0.08 at $82.125, December corn is down 5 1/4 cents per bushel and December soybean meal is up $0.40. The Dow Jones Industrial Average is up 563.35 points. Bids of $182 live and $288 dressed are currently being offered in the North, but still no cattle have traded. It's likely that packer interest will improve this afternoon, but with feedlot managers aiming to keep the market steady, trade will likely be delayed until sometime Friday.

Posted 08:33 -- December live cattle are up $0.73 at $180.575, October feeder cattle are up $1.78 at $241.725, October lean hogs are steady, December corn is down 4 1/2 cents per bushel and December soybean meal is up $0.60. The Dow Jones Industrial Average is up 547.77 points. Beef net sales of 15,500 mt for 2024 were up 36% from the previous week and 2% from the prior 4-week average. The three largest buyers were South Korea (3,700 mt), China (3,000 mt) and Japan (2,900 mt). Pork net sales of 29,000 mt for 2024 were down 3% from the previous week, but up 3% from the previous 4-week average. The three largest buyers were Japan (7,900 mt), Mexico (5,700 mt) and Colombia (3,300 mt).

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