DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Posted 12:38 -- December corn is up 1 cent per bushel, November soybeans are up 1/2 cent, December KC wheat is down 1 3/4 cents, December Chicago wheat is down 1 cent and MIAX December Minneapolis wheat is down 0.0250 cents. The Dow Jones Industrial Average is down 62.54 points. The U.S. Dollar Index is up 0.360 and November crude oil is up $0.86 per barrel. December gold is up $69.30 per ounce. Heading into the Monday close, corn and beans are little changed while all three wheat markets are lower. Traders expect the soy harvest to reach 37% to 39% done and corn 27% to 29% this week. The advancing harvest of the large crops will likely cause storage issues.

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Posted 10:28 -- December corn is down 1/2 cent per bushel, November soybeans are down 1 3/4 cents, December KC wheat is down 2 1/4 cents, December Chicago wheat is down 1 3/4 cents and MIAX December Minneapolis wheat is up 0.0025 cents. The Dow Jones Industrial Average is down 54.15 points. The U.S. Dollar Index is up 0.380 and November crude oil is up $0.78 per barrel. December gold is up $64.30 per ounce. At midmorning corn, soybean and wheat markets have given up early gains to trade lower. Bean oil is the one exception. There is very little fresh news to impact markets early Monday.

Posted 08:31 -- December corn is up 3/4 cent per bushel, November soybeans are up 1 3/4 cents, December KC wheat is up 2 1/4 cents, December Chicago wheat is up 2 cents and MIAX December Minneapolis wheat is up 0.0150 cents. The Dow Jones Industrial Average is up 67.53 points. The U.S. Dollar Index is up 0.550 and November crude oil is up $0.54 per barrel. December gold is up $44.10 per ounce. Corn and soy markets are little changed to slightly better with wheat just a bit firmer on a slow Monday. There was no CFTC Commitments of Traders report and there will be no grain inspections Monday.

Posted 19:14 Sunday -- December corn is down 1/4 cents and November soybeans are down 2 1/4 cents when markets opened Sunday evening. December KC wheat is down 2 cents, December Chicago wheat is down 1 1/2 cents, and December MIAX Minneapolis wheat is down 1 3/4 cents. November crude oil is up $0.69 and Dow Jones futures are up 67 points. The U.S. Dollar Index is up 0.37 and December gold is up $22. Row crop futures are lower to begin the new week. The two-day rally last Wednesday and Thursday spurred by President Donald Trump's pro-soybean trade comments reached a point of exhaustion by late morning on Friday, as there is still the majority of October to go before the summit between President Trump and President Xi Jinping will take place. In the meanwhile, the current lack of government reports to spark the trade and increasing harvest pressure may make a continuance of the bounce difficult. Along those lines, however, the market will remain very sensitive and volatile to rumors regarding trade with China.

Livestock

Posted 11:46 -- December live cattle are up $1.05 at $235.55, November feeder cattle are up $4.25 at $359.675, December lean hogs are up $0.03 at $87.325, December corn is up 1 1/2 cents per bushel and December soybean meal is down $0.70. The Dow Jones Industrial Average is down 128.86 points and NASDAQ is up 157.15 points. With both boxed beef prices and pork cutout values higher, the livestock complex is off to stronger start Monday morning. New showlists appear to be mixed, higher in Nebraska/Colorado and Texas, but lower in Kansas.

Posted 08:36 -- December live cattle are up $0.28 at $234.775, November feeder cattle are up $0.83 at $356.25, December lean hogs are down $0.15 at $87.15, December corn is down 1 cent per bushel and December soybean meal is down $0.60. The Dow Jones Industrial Average is up 62.87 points and NASDAQ is up 105.33 points. The cattle complex is off to a stronger start as traders are hoping to find more support in this week's market. Given that last week's cash cattle trade was light through the day's close, it will be especially interesting to see how today's report shows how the cattle were committed for delivery as that could indicate how aggressive packers will be in this week's market.

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