DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:43 -- December corn is down 4 3/4 cents per bushel, November soybeans are down 15 cents, December KC wheat is down 5 1/2 cents, December Chicago wheat is down 12 1/4 cents and MIAX December Minneapolis wheat is down 0.0350 cents. The Dow Jones Industrial Average is up 106.61 points. The U.S. Dollar Index is down 0.290 and November crude oil is up $0.02 per barrel. December gold is up $74.20 per ounce. Heading into the Monday close, corn, wheat, soybeans and soy products remain under very heavy pressure. The advancing harvests, lack of a China deal and Argentina's decision to suspend export taxes (26% on beans) to Oct. 31 along with growing world wheat stocks are combining to pummel markets.

Posted 10:33 -- December corn is down 5 1/4 cents per bushel, November soybeans are down 14 1/2 cents, December KC wheat is down 3 3/4 cents, December Chicago wheat is down 10 1/2 cents and MIAX December Minneapolis wheat is down 0.0250 cents. The Dow Jones Industrial Average is up 36.34 points. The U.S. Dollar Index is down 0.170 and November crude oil is down $0.24 per barrel. December gold is up $59.70 per ounce. At midmorning the color of ag quote screens is flashing bright red with soybeans and wheat leading the losses. The facts that the U.S. may have missed Chinese soy business into year end and indications that several country's wheat supplies are growing along with the advancing harvests are pummeling grain and soy.

Posted 08:40 -- December corn is down 2 1/2 cents and November soybeans are down 16 cents. December KC wheat is down 4 cents, December Chicago wheat is down 6 cents, and December MIAX Minneapolis wheat is down 1/4 cents. November crude oil is down $0.60 and Dow Jones futures are down 197 points. The U.S. Dollar Index is down 0.21 and December gold is up $51.30. To begin the day trade Monday, soybeans are in a tailspin down another 16 cents to follow up Friday's double-digit drop. Rumors that Argentina will suspend their grain export tax through October are adding to fears that China will be all but covered on soybean needs deep into the traditional window where U.S. exporters take control of the market.

Posted 19:07 Sunday -- Grain markets are mixed to slightly lower on the open Sunday evening. Soybeans are leading the way downward again following a bearish second half of the week last week for price action as traders were again reminded of demand concerns with China not an active buyer of U.S. soybeans and Friday's Trump/Xi phone call offering little to ease bearish demand fears. Overall, markets have settled into a sideways pattern over the last few weeks with little fresh news as traders await more substantial field-level reports to give ideas on true crop size for U.S. fall harvests.

Livestock

Posted 11:47 -- December live cattle are up $4.65 at $240.375, October feeder cattle are up $7.53 at $361.625, December lean hogs are up $1.23 at $88.85, December corn is down 5 cents per bushel and December soybean meal is down $4.00. The Dow Jones Industrial Average is up 42.53 points and NASDAQ is up 136.72 points. It's been an incredible morning for the cattle complex as traders are pleased to make note of Friday's bullish Cattle on Feed report and are enthusiastically waiting to see what comes from USDA in terms of revitalizing the American beef industry. New showlists are higher in Nebraska/Colorado, steady in Texas, but lower in Kansas.

Posted 08:36 -- December live cattle are up $1.55 at $237.275, October feeder cattle are up $2.53 at $356.625, December lean hogs are down $0.03 at $87.6, December corn is down 3 3/4 cents per bushel and December soybean meal is down $5.00. The Dow Jones Industrial Average is down 187.63 points and NASDAQ is down 21.62 points. The cattle complex is off to a stronger start most likely because of last Friday's bullish Cattle on Feed report. It is important for our readers to know that USDA shared over the weekend that Mexico confirmed that a new case of New World screwworm was detected in Sabinas Hidalgo, which is less than 70 miles from the U.S.-Mexico border.

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