DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Ahead of the close, December corn is up 2 1/4 cents per bushel, November soybeans are up 23 cents, September KC wheat is up 1 cent, September Chicago wheat is up 1 1/4 cents and MIAX September Minneapolis wheat is up 0.0125 cents. The Dow Jones Industrial Average is down 169.79 points. The U.S. Dollar Index is up 0.370 and September crude oil is up $0.06 per barrel. December gold is down $89.60 per ounce. Soybeans continue higher in hopes we may see a China purchase soon, while the corn market is following along as traders position ahead of the USDA WASDE report Tuesday. Oil futures are barely trading higher as the market is looking ahead to the Putin and Trump meeting Friday, but the OPEC+ production increase coming in September still leaves a sour taste in the market.

Posted 10:29 -- December corn is up 3 cents per bushel, November soybeans are up 22 1/2 cents, September KC wheat is down 3/4 cent, September Chicago wheat is up 2 1/4 cents and MIAX September Minneapolis wheat is up 0.0225 cents. The Dow Jones Industrial Average is down 141.55 points. The U.S. Dollar Index is up 0.450 and September crude oil is up $0.24 per barrel. December gold is down $84.70 per ounce. Soybeans continue to rally over President Trump's social media post Sunday night asking China to quadruple their soybean orders from the U.S. and, while unlikely, there is hope China will at least make a purchase. Chicago wheat is higher on the hope that China might also buy some wheat to appease the U.S. ahead of the Aug. 12 tariff deadline.

Posted 08:36 -- December corn is up 2 1/4 cents per bushel, November soybeans are up 16 3/4 cents, September KC wheat is up 1 1/4 cents, September Chicago wheat is up 5 1/4 cents and MIAX September Minneapolis wheat is up 0.0350 cents. The Dow Jones Industrial Average is up 83.20 points. The U.S. Dollar Index is up 0.300 and September crude oil is up $0.34 per barrel. December gold is down $81.40 per ounce. Soybeans and soy products continue to hold much of the early strength while corn is moderately higher and wheat mostly higher now. With only a suggestion that China buy more U.S. soybeans ahead of the Aug. 12 tariff truce deadline, soy traders have hopped in to cover shorts. It will be interesting to see how long this strength lasts.

Posted 19:00 Sunday -- December corn is down 1 cent per bushel, November soybeans are up 1/4 cent, September KC wheat is down 3 1/2 cents, September Chicago wheat is up 1/4 cent and MIAX September Minneapolis wheat is up 0.0275 cents. The Dow Jones Industrial Average futures are up 36 points. The U.S. Dollar Index is up 0.050 and September crude oil is down $0.50 per barrel. December gold is down $36.70 per ounce. Following a weekend which saw more rain in the central and northwestern Plains amounting to up to 2 inches with some heavy rain of close to 7 inches falling in parts of Wisconsin, and a nonthreatening forecast for the upcoming week, there is not much to talk about ahead of the Tuesday August WASDE report. The Dow Jones trader survey is a bit conservative with the average corn yield at 184.2 bpa, but still record large, and a soy yield of 52.9 bpa. President Trump is scheduled to meet with Russia's Putin in Alaska on Friday. Grain and soy markets are little changed to begin.

Livestock

Posted 11:42 -- October live cattle are down $0.30 at $225.675, September feeder cattle are down $0.70 at $339.675, October lean hogs are up $1.23 at $91.9, September corn is up 3 3/4 cents per bushel and August soybean meal is up $4.60. The Dow Jones Industrial Average is down 62.39 points and NASDAQ is up 72.91 points. The cattle complex remains uncertain how to handle the futures following Friday's major selloff; but the lean hog contracts are trading higher thanks to continued consumer demand. New showlists appear to be mixed, higher in Kansas and Nebraska/Colorado, but lower in Texas.

Posted 08:36 -- October live cattle are up $1.35 at $227.325, September feeder cattle are up $2.43 at $342.8, October lean hogs are up $0.43 at $91.1, September corn is up 2 cents per bushel and August soybean meal is down $0.00. The Dow Jones Industrial Average is up 55.45 points and NASDAQ is down 20.53 points. The cattle complex is off to a stronger start following Friday's sharp decline. It will be imperative to see what last week's total negotiated cash cattle trade checked in at as that will indicate how aggressive packers will be this week.

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