DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 4 cents per bushel, November soybeans are down 15 3/4 cents per bushel. December KC wheat is up 2 1/4 cents per bushel, December Chicago wheat is up 3 3/4 cents per bushel and December Minneapolis wheat is up 2 1/4 cents. The Dow Jones Industrial Average is up 28.36 points at 41,982.60. The U.S. Dollar Index is up 0.010 at 102.55. November crude oil is down $2.62 per barrel at $74.52. Just ahead of the Tuesday close, soybeans and soybean oil remain down hard, with corn down 4 cents and wheat slightly higher in quiet trade. The rapid advance in the U.S. harvest, rain overnight in Argentina, and a wetter northern Brazil outlook has created a headwind for corn and soy. Funds have turned sizable sellers of soybeans, bean oil and corn on Tuesday.

Posted 10:37 -- December corn is down 5 3/4 cents per bushel, November soybeans are down 19 1/4 cents per bushel. December KC wheat is down 1 3/4 cents per bushel, December Chicago wheat is down 3/4 cent per bushel and December Minneapolis wheat is down 1 cent. The Dow Jones Industrial Average is up 62.29 points at 42,016.53. The U.S. Dollar Index is up 0.080 at 102.62. November crude oil is down $3.70 per barrel at $73.44. Corn, soybeans, and soybean oil are under heavy pressure at mid-morning. The advancing harvest, a wetter outlook for Brazil and a drop of nearly $4 per barrel in spot crude oil are combining to weigh on markets. Wheat and soymeal are just modestly lower.

Posted 08:37 -- December corn is down 3 cents per bushel, November soybeans are down 14 1/2 cents per bushel. December KC wheat is down 3 3/4 cents per bushel, December Chicago wheat is down 3 1/2 cents per bushel and December Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average is up 75.11 points at 42,029.35. The U.S. Dollar Index is down 0.090 at 102.45. November crude oil is down $2.18 per barrel at $74.96. USDA announced a new sale of soybeans to China for 2024-25 of 166,000 mt, or 6.1 million bushels. Grain and soy markets are under heavy pressure, led by soybeans and bean oil. Near perfect harvest weather in much of the U.S. and the apparent start of the wet season in Brazil are weighing on values.

Livestock

Posted 11:39 -- December live cattle are up $0.65 at $187.675, November feeder cattle are up $0.63 at $249.775, December lean hogs are up $0.30 at $77.125, December corn is down 5 3/4 cents per bushel and December soybean meal is down $2.10. The Dow Jones Industrial Average is up 73.89 points. Asking prices are now noted in the South at $188 but have yet to be established in the North. Traders are fully supporting the livestock complex heading into Tuesday's noon hour as all three markets are still trading higher. It's especially exciting to note that the spot November feeder cattle contract is currently trading above the market's 100-day moving average.

Posted 08:36 -- December live cattle are down $0.03 at $187.00, November feeder cattle are up $0.30 at $249.45, December lean hogs are up $0.23 at $77.05, December corn is down 3 cents per bushel and December soybean meal is down $1.00. The Dow Jones Industrial Average is up 92.62 points. The livestock complex is off to a mixed start on Tuesday as traders want to continue to support the contracts, but also know that with the markets trading a resistance points that fundamental support is essential. Still no business has developed in the cash cattle market and won't likely until after Wednesday at some point.

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