DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- December corn is down 7 1/4 cents per bushel, January soybeans are down 17 1/2 cents per bushel. December KC wheat is down 8 cents per bushel, December Chicago wheat is down 11 1/4 cents per bushel and December Minneapolis wheat is down 5 1/2 cents. The Dow Jones Industrial Average is down 170.96 points at 43,787.23. The U.S. Dollar Index is up 0.170 at 106.65. December crude oil is up $0.03 per barrel at $68.46. Just ahead of Thursday's close, grain and soy markets remain down hard, led by soybeans and wheat. Weather remains bearish in South America with Argentina expected to turn wetter in the 11- to 15-day part of the forecast. Argentine and Ukraine corn premiums are weakening, making it more challenging for U.S. exporters. However, both export and ethanol demand remain stout with last week's ethanol production record large at 1.113 million barrels per day.
Posted 10:35 -- December corn is down 6 cents per bushel, January soybeans are down 14 1/4 cents per bushel. December KC wheat is down 4 1/4 cents per bushel, December Chicago wheat is down 8 3/4 cents per bushel and December Minneapolis wheat is down 3/4 cent. The Dow Jones Industrial Average is up 1.73 points at 43,959.92. The U.S. Dollar Index is down 0.020 at 106.46. December crude oil is up $0.17 per barrel at $68.60. At mid-morning, all the grain and soy markets are under heavy selling pressure led by January beans. Soybean oil is now lower for a fourth consecutive day, and KC wheat is down seven in a row. Good weather both in the U.S. and especially South America is a heavy weight on markets.
Posted 08:44 -- December corn is down 1 cent per bushel, January soybeans are down 3/4 cent per bushel. December KC wheat is down 2 1/4 cents per bushel, December Chicago wheat is down 3 cents per bushel and December Minneapolis wheat is up 1 1/2 cents. The Dow Jones Industrial Average is up 112.87 points at 44,071.06. The U.S. Dollar Index is up 0.110 at 106.59. December crude oil is up $0.83 per barrel at $69.26. USDA announced a new export sale of 176,000 mt (6.9 mb) of soybeans to unknown destinations for 2024-25. Corn and soy markets are little changed but slightly lower early Thursday, and wheat is mixed with KC December lower for the seventh straight day on improving conditions and world wheat pressure. The U.S. Dollar Index has risen to the highest level in one year.
Livestock
Posted 11:35 -- December live cattle are down $1.20 at $182.825, January feeder cattle are down $0.55 at $243.1, December lean hogs are down $2.25 at $79.625, December corn is down 6 1/4 cents per bushel and December soybean meal is down $2.60. The Dow Jones Industrial Average is down 162.74 points. Bids of $185 live are currently being offered in Nebraska and Kansas, but thus far there haven't been any new sales reported Thursday. On Wednesday afternoon a few cattle sold in the North for $290, which is $3.00 lower than last week's weighted average.
Posted 08:40 -- December live cattle are down $0.10 at $183.925, January feeder cattle are up $1.05 at $244.7, December lean hogs are up $0.35 at $82.225, December corn is down 1 1/4 cents per bushel and December soybean meal is down $2.20. The Dow Jones Industrial Average is up 111.07 points. There was light movement of cattle in the North on Wednesday afternoon where dressed cattle sold for $290, which is $3.00 lower than last week's weighted average. Otherwise, the countryside remains quiet and more business will need to develop before week's end. Asking prices are noted in the South at $188 to $189, and at $292 in the North.
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