DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- December corn is down 3 cents per bushel, January soybeans are down 16 3/4 cents per bushel. December KC wheat is down 14 1/2 cents per bushel, December Chicago wheat is down 15 3/4 cents per bushel and December Minneapolis wheat is down 13 1/2 cents. The Dow Jones Industrial Average is down 247.77 points at 44,045.36. The U.S. Dollar Index is up 0.490 at 106.03. December crude oil is up $0.12 per barrel at $68.16. Falling world wheat values and more rain headed for the Plains are combining to pummel wheat markets at midday. Soybeans and soybean oil continue to crumble, pressured by the slide in palm oil and slowing soy export demand as traders feel China could avoid the U.S. soy market, fearing increased tariffs in January. January beans have now fallen more than 45 cents from the post-report high. Corn has also fallen victim to the bearish tone on Tuesday.
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Posted 10:35 -- December corn is down 1 cent per bushel, January soybeans are down 12 3/4 cents per bushel. December KC wheat is down 10 cents per bushel, December Chicago wheat is down 9 1/4 cents per bushel and December Minneapolis wheat is down 7 3/4 cents. The Dow Jones Industrial Average is down 187.77 points at 44,105.36. The U.S. Dollar Index is up 0.460 at 106.00. December crude oil is up $0.29 per barrel at $68.33. At mid-morning, soybeans soybean oil and wheat markets are under heavy selling pressure. January beans have now plunged more than 30 cents below the post-report high on Friday. Favorable South American weather seems to be the focus after the November WASDE report. More rain is headed for the hard winter wheat areas next week.
Posted 08:42 -- December corn is up 1 3/4 cents per bushel, January soybeans are down 3 1/4 cents per bushel. December KC wheat is down 1 3/4 cents per bushel, December Chicago wheat is unchanged and December Minneapolis wheat is up 1/4 cent. The Dow Jones Industrial Average is up 74.44 points at 44,367.57. The U.S. Dollar Index is up 0.380 at 105.92. December crude oil is up $1.03 per barrel at $69.07. USDA announced another new corn sale to Mexico for 110,500 mt (4.4 mb) for 2024-25. Soybeans and bean oil remain under modest pressure with bean oil reacting to the weak veg oil market. Corn is firm and just 3 cents below key resistance on December.
LivestockPosted 11:35 -- December live cattle are up $0.90 at $184.6, January feeder cattle are up $1.18 at $243.425, December lean hogs are up $0.53 at $82.3, December corn is down 2 1/4 cents per bushel and December soybean meal is down $1.10. The Dow Jones Industrial Average is down 256.39 points. Support from the equity markets has encouraged the livestock contracts to trade higher. Asking prices are noted in the South at $188 to $189 but are not established yet in the North.
Posted 08:42 -- December live cattle are down $0.15 at $183.55, January feeder cattle are down $0.05 at $242.2, December lean hogs are up $0.78 at $82.55, December corn is up 1 1/4 cents per bushel and December soybean meal is up $0.40. The Dow Jones Industrial Average is up 83.70 points. Unfortunately, the cattle complex is again being pressured to trade lower as there simply isn't enough fundamental support in the market to push prices higher. Meanwhile, the lean hog complex is trading higher yet again and is currently pressuring resistance thresholds.
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