DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:45 -- December corn is up 1 cent per bushel, November soybeans are up 5 cents, December KC wheat is down 4 1/2 cents, December Chicago wheat is down 1 3/4 cents and MIAX December Minneapolis wheat is down 0.0525 cents. The Dow Jones Industrial Average is up 18.15 points. The U.S. Dollar Index is unchanged and November crude oil is down $0.63 per barrel. December gold is up $17.50 per ounce. Corn and soybeans have recovered from morning weakness to trade higher while wheat and soymeal are still in the red after falling to new contract lows. Rumors have commission house Stone X possibly coming out with new crop estimates later Wednesday. After a barrage of bearish news Tuesday, it is likely the corn bounce is a dead cat bounce as USDA found 200 million bushels more of corn to go with the record new-crop harvest.

Posted 10:26 -- December corn is down 4 1/4 cents per bushel, November soybeans are down 3 1/2 cents, December KC wheat is down 7 3/4 cents, December Chicago wheat is down 4 cents and MIAX December Minneapolis wheat is down 0.0600 cents. The Dow Jones Industrial Average is up 64.51 points. The U.S. Dollar Index is down 0.010 and November crude oil is down $0.44 per barrel. December gold is up $15.60 per ounce. The weakness continues at mid-morning with KC wheat leading the way down as spot December fell below $4.90. Soybeans are still down hard with October soymeal falling to a new low again and headed for the tenth lower finish in the past 11 trading days.

Posted 08:34 -- December corn is down 2 1/4 cents per bushel, November soybeans are down 4 1/4 cents, December KC wheat is down 6 3/4 cents, December Chicago wheat is down 3 1/2 cents and MIAX December Minneapolis wheat is down 0.0275 cents. The Dow Jones Industrial Average is down 45.44 points. The U.S. Dollar Index is down 0.250 and November crude oil is down $0.79 per barrel. December gold is up $27.90 per ounce. Grain and soy markets, with the exception of soybean oil, are under heavy pressure again Wednesday following the surprisingly bearish USDA data. All three wheat markets have again scored new lows. Soybeans are down despite a relatively neutral report as the advancing harvest and the lack of a China trade deal weigh on the market.

Livestock

Posted 11:48 -- December live cattle are down $0.33 at $234.45, November feeder cattle are down $0.40 at $358.95, December lean hogs are down $1.55 at $87.175, December corn is down 3 1/4 cents per bushel and December soybean meal is down $2.40. The Dow Jones Industrial Average is down 19.88 points and NASDAQ is up 36.36 points. The livestock complex continues to trade mixed as the cattle contracts are inching higher but the lean hog complex continues to lose ground. Asking prices are now noted in the South at $237 to $240 but are still not established in the North.

Posted 08:39 -- December live cattle are down $0.53 at $234.25, November feeder cattle are down $0.53 at $358.825, December lean hogs are up $0.23 at $88.95, December corn is down 2 3/4 cents per bushel and December soybean meal is down $2.20. The Dow Jones Industrial Average is down 59.44 points and NASDAQ is down 82.22 points. The livestock complex is off to mixed start again today as traders continue to yearn for additional support. Asking prices are now noted in the South at $237 to $240, but are still not established in the North.

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