DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- December corn is up 2 cents per bushel, November soybeans are down 1 3/4 cents per bushel. December KC wheat is up 5 1/2 cents per bushel, December Chicago wheat is up 4 1/4 cents per bushel and December Minneapolis wheat is up 6 cents. The Dow Jones Industrial Average is down 272.24 points at 42,080.51. The U.S. Dollar Index is down 0.150 at 102.37. November crude oil is up $2.64 per barrel at $77.02. Just ahead of the close, all three wheat markets have recovered from early selling to halt a two-day slide in prices. Corn is a bit firmer, gaining some strength from wheat and crude oil. Soybeans and soymeal are under pressure as funds are liquidating some soymeal on Monday and a clear weather forecast is ahead for the next 10-11 days, accelerating harvest activity.
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Posted 10:38 -- December corn is up 1 1/4 cents per bushel, November soybeans are down 1/2 cent per bushel. December KC wheat is up 5 cents per bushel, December Chicago wheat is up 3 3/4 cents per bushel and December Minneapolis wheat is up 4 3/4 cents. The Dow Jones Industrial Average is down 153.72 points at 42,199.03. The U.S. Dollar Index is down 0.040 at 102.48. November crude oil is up $2.28 per barrel at $76.66. Corn and soybeans are quietly trading close to unchanged while bean oil and the wheat markets are now trading higher. Bean oil is no doubt getting a boost from higher crude oil as reports of Hezbollah sending rockets into Israel are on social media.
Posted 08:39 -- December corn is up 1/4 cent per bushel, November soybeans are down 4 3/4 cents per bushel. December KC wheat is up 1 1/4 cents per bushel, December Chicago wheat is up 2 3/4 cents per bushel and December Minneapolis wheat is down 1/2 cent. The Dow Jones Industrial Average is down 194.79 points at 42,157.96. The U.S. Dollar Index is down 0.040 at 102.48. November crude oil is up $1.16 per barrel at $75.54. Corn has moved back to unchanged, wheat is higher, while soybeans and products remain lower. The advancing harvest in the U.S. and wetter forecast for Brazil is weighing on futures. At 8:00 a.m. CDT, USDA reported two new sales of 155,000 mt (6.1 mb) of corn to Mexico for 2024-25 and 172,500 mt (6.3 mb) of soybeans to unknown destinations, also for 2024-25.
Posted 19:05 (10/06) -- December corn is down 3 cents per bushel, and November soybeans are down 7 3/4 cents per bushel. December KC wheat is down 3/4 cent per bushel, December Chicago wheat is down 1 cent per bushel and December Minneapolis wheat is down 1 1/4 cents. The Dow Jones futures are up 18 points at 42,644. The U.S. Dollar Index is up 0.010 at 102.53. November crude oil is down $0.58 per barrel at $73.80. Favorable central U.S. weather and a wetter forecast for dry soybean areas of northern Brazil are pressuring markets early Sunday night. The monsoon rains for Brazil are running six to 10 days behind schedule. An active harvest weekend occurred, and estimates are that both corn and soy harvests could reach 50% sometime this week.
LivestockPosted 11:49 -- December live cattle are down $0.10 at $186.9, November feeder cattle are down $0.20 at $249.075, December lean hogs are up $1.10 at $77.25, December corn is up 1 cent per bushel and December soybean meal is down $6.30. The Dow Jones Industrial Average is down 261.13 points. Last week's negotiated cash cattle trade totaled 59,356 head. Of that 82% (48,748 head) were committed to the nearby delivery, while the remaining 18% (10,608 head) were committed to the deferred delivery option.
Posted 08:37 -- December live cattle are up $0.30 at $187.3, November feeder cattle are up $0.25 at $249.525, December lean hogs are down $0.18 at $75.975, December corn is steady and December soybean meal is steady. The Dow Jones Industrial Average is down 140.98 points. Last week's negotiated cash cattle trade was powerful as Southern live cattle traded $1.00 higher and Northern dressed deals were marked $2.00 higher. But it will be imperative to check today's USDA cash cattle report to see exactly how many cattle were purchased last week and to see how they were committed as that will help give perspective as to how this week's cash trade could pan out.
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