DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 1 1/4 cents and November soybeans are down 3/4 cents. December KC wheat is down 1 3/4 cents, December Chicago wheat is up 1 cents, and December MIAX Minneapolis wheat is up a 1/4 cent. November crude oil is up $0.60 and Dow Jones futures are up 389 points. The U.S. Dollar Index is down 0.13 and December gold is up $41.00. Row crop futures have turned lower heading into the last half hour of trade for the week. The lack of fresh news amid the government shutdown has meant that reassurance to bullish traders may be slim between now and the highly anticipated summit between Presidents Trump and Xi at the end of the month. For Friday thus far, there simply hasn't been enough bullish fuel to sustain prices through technical resistance especially in the soybean market, with many traders likely remaining on the sidelines ahead of the weekend.

Posted 10:31 -- December corn is down 1/4 cent per bushel, November soybeans are up 2 3/4 cents, December KC wheat is down 1/4 cent, December Chicago wheat is up 1 3/4 cents and MIAX December Minneapolis wheat is unchanged. The Dow Jones Industrial Average is up 323.88 points. The U.S. Dollar Index is down 0.160 and November crude oil is up $0.71 per barrel. December gold is up $44.40 per ounce. Here at mid-morning, soybeans and soymeal have renewed strength while wheat is a mixed affair on a slow trading day with little in the way of fresh news. Since plunging under $10 on Wednesday, November beans have rallied 34 cents above the low that day. On the demand side, the lack of China buying interest will continue to weigh on soybeans.

Posted 08:32 -- December corn is down 1 3/4 cents per bushel, November soybeans are down 3 1/2 cents, December KC wheat is down 1/2 cent, December Chicago wheat is up 1/2 cent and MIAX December Minneapolis wheat is up 0.0050 cents. The Dow Jones Industrial Average is up 123.76 points. The U.S. Dollar Index is down 0.120 and November crude oil is up $0.44 per barrel. December gold is up $35.30 per ounce. Corn and soy markets are a bit weaker and wheat mixed in very slow early Friday trade. The Trump administration is contemplating some financial assistance for U.S. farmers to the tune of $10 billion to $14 billion to come from tariff revenue to help out during the tariff battle with China.

Livestock

Posted 11:43 -- December live cattle are up $0.45 at $233.925, November feeder cattle are up $1.93 at $354.325, December lean hogs are up $0.68 at $87.35, December corn is down 1/2 cent per bushel and December soybean meal is steady. The Dow Jones Industrial Average is up 527.16 points and NASDAQ is up 53.01 points. Both the feeder cattle and lean hog contracts are trading higher into Friday's noon hour, but the live cattle contracts remain hesitant to do so. No new cash cattle trade has been reported but more trade needs to develop ahead of the week's end as virtually no cattle have traded yet in the South.

Posted 08:36 -- December live cattle are up $0.55 at $234.025, November feeder cattle are up $0.95 at $353.35, December lean hogs are up $0.23 at $86.9, December corn is down 1 1/4 cents per bushel and December soybean meal is up $0.50. The Dow Jones Industrial Average is up 102.36 points and NASDAQ is up 45.09 points. The livestock contracts are off to a slightly stronger start for the day, following Thursday's weaker close. No new cash cattle trade has been reported, but more trade will need to develop (especially in the South) ahead of the week's close. Asking prices are noted in the South at $235 to $237 and in the North at $362 plus.

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