DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 1 3/4 cents per bushel, January soybeans are down 8 1/4 cents per bushel. December KC wheat is down 5 1/4 cents per bushel, December Chicago wheat is down 10 1/4 cents per bushel and December Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average is up 324.80 points at 44,313.79. The U.S. Dollar Index is up 0.550 at 105.54. December crude oil is down $2.24 per barrel at $68.14. Corn, wheat, soy and soy products are all lower heading into the Monday close, led by wheat on recent rains improving crop conditions. The bullish jolt from lower yield and production on both corn and beans appears to have run its course. South American weather and planting progress remains favorable, leading to speculation on much larger crop potential.

Posted 10:35 -- December corn is down 2 3/4 cents per bushel, January soybeans are down 7 3/4 cents per bushel. December KC wheat is down 12 1/4 cents per bushel, December Chicago wheat is down 16 1/4 cents per bushel and December Minneapolis wheat is down 9 3/4 cents. The Dow Jones Industrial Average is up 368.40 points at 44,357.39. The U.S. Dollar Index is up 0.510 at 105.50. December crude oil is down $2.19 per barrel at $68.19. At midmorning all grain and soy markets have weakened more, with soymeal the only contract trading higher. It seems the soybean market has ignored the bullish WASDE report and is back to trading bearish South American weather. Beans are also getting some pressure from the falling soybean oil market which is weakening along with crude oil.

Posted 08:35 -- December corn is down 3/4 cent per bushel, January soybeans are up 5 cents per bushel. December KC wheat is down 11 3/4 cents per bushel, December Chicago wheat is down 16 cents per bushel and December Minneapolis wheat is down 9 cents. The Dow Jones Industrial Average is up 366.04 points at 44,355.03. The U.S. Dollar Index is up 0.520 at 105.51. December crude oil is down $1.87 per barrel at $68.51. Wheat markets are down hard following good rain coverage in primary hard winter areas. Corn futures are modestly lower and soybeans are trading higher after Friday's larger-than-expected cut in both soybean yield and production. Bean oil futures are lower with the sliding crude oil market despite bullish stocks in the November WASDE and another new contract high in palm oil.

Posted 19:07 Sunday -- December corn is down 1/2 cent and January soybeans are up 3 1/4 cents. December Kansas City wheat is down 1 cent and December Minneapolis wheat is down 1/2 cent. December crude oil is down $0.22 and Dow Jones futures are up 21 points. The U.S. Dollar Index is up 0.02 and December gold is down $2.80. For this week, traders will continue to try to sort out Friday's World Agricultural Supply and Demand Estimates (WASDE) report figures which were overall supportive to prices, but also had some bearish undertones such as the USDA deciding to cut U.S. soybean demand and leave U.S. corn demand unchanged. The market will also turn attention to South American weather as it seems to be becoming more apparent that the demand picture for U.S. row crops is directly tied to South American production and export capabilities. Reminder, Monday is Veterans Day, and some USDA reports are postponed one day through the week.

Livestock

Posted 11:35 -- December live cattle are down $0.15 at $183.55, January feeder cattle are down $0.28 at $241.15, December lean hogs are up $0.88 at $81.3, December corn is down 1 3/4 cents per bushel and December soybean meal is up $0.80. The Dow Jones Industrial Average is up 365.03 points. Last week's negotiated cash cattle trade totaled 50,010 head. Of that 83% (41,519 head) were committed to the nearby delivery, while the remaining 17% (8,391 head) were committed to the deferred delivery option. New showlists appear to be mixed, higher in Texas, but lower in Nebraska/Colorado and Kansas.

Posted 08:39 -- December live cattle are up $0.15 at $183.85, January feeder cattle are down $0.08 at $241.35, December lean hogs are up $1.08 at $81.5, December corn is down 1 1/2 cents per bushel and December soybean meal is up $3.70. The Dow Jones Industrial Average is up 298.03 points. The livestock complex is starting Monday mixed and some traders likely won't participate as they honor Veterans Day. It will be important to see exactly how many cattle were purchased in last week's cash market as that will indicate exactly how aggressive packers will be in this week's cash market.

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