DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:46 -- December corn is down 4 3/4 cents per bushel, November soybeans are down 17 3/4 cents, December KC wheat is down 6 1/2 cents, December Chicago wheat is down 8 1/2 cents and MIAX December Minneapolis wheat is down 0.0650 cents. The Dow Jones Industrial Average is down 549.71 points. The U.S. Dollar Index is down 0.520 and November crude oil is down $2.53 per barrel. December gold is up $31.50 per ounce. Heading into the Friday close, corn, wheat and beans continue to crater. December corn and November beans have fallen below 50-day moving averages while all three wheat markets fell to new lows. New restrictions by China on rare earth minerals and a plan to tax U.S. vessels in port has thrown the chance of a China trade deal into disarray.

Posted 10:32 -- December corn is down 6 cents per bushel, November soybeans are down 19 1/4 cents, December KC wheat is down 8 1/4 cents, December Chicago wheat is down 9 cents and MIAX December Minneapolis wheat is down 0.0625 cents. The Dow Jones Industrial Average is down 496.11 points. The U.S. Dollar Index is down 0.660 and November crude oil is down $2.26 per barrel. December gold is up $63.30 per ounce. Grain and soy markets have extended losses at midmorning. A comment from President Trump saying he has no reason to meet with China's leader Xi is credited with the selloff. December corn has broken down below the 50-day average, and all three wheat markets have sunk to new lows. Soybeans and soybean oil are getting pummeled with November beans again testing $10.00.

Posted 08:32 -- December corn is down 2 3/4 cents per bushel, November soybeans are down 9 3/4 cents, December KC wheat is down 5 3/4 cents, December Chicago wheat is down 5 cents and MIAX December Minneapolis wheat is down 0.0300 cents. The Dow Jones Industrial Average is up 164.33 points. The U.S. Dollar Index is down 0.180 and November crude oil is down $1.60 per barrel. December gold is up $33.40 per ounce. Corn, wheat and soybeans are under heavy pressure with December corn about to challenge the 50-day average again and both KC and Chicago wheat falling to new contract lows. A wide-open harvest forecast is likely to increase hedge pressure.

Livestock

Posted 11:44 -- December live cattle are down $0.53 at $239.375, November feeder cattle are down $1.50 at $372.55, December lean hogs are down $0.25 at $84.1, December corn is down 4 1/4 cents per bushel and December soybean meal is down $0.90. The Dow Jones Industrial Average is down 449.31 points and NASDAQ is down 472.08 points. The livestock contracts are trading lower into Friday's noon hour as traders have noted the decline in the equity markets and are taking a more cautious approach. Some light cash cattle trade has developed in the North at $362, which is $2.00 higher than last week's weighted average.

Posted 08:36 -- December live cattle are down $0.18 at $239.725, November feeder cattle are down $0.33 at $373.725, December lean hogs are down $0.38 at $83.975, December corn is down 2 cents per bushel and December soybean meal is down $1.30. The Dow Jones Industrial Average is up 94.01 points and NASDAQ is up 30.46 points. The cattle complex is off to a mixed start as traders pull the reins back slightly on the market's incredible rally amid not seeing any fed cash cattle trade yet. No bids are currently on the table but packer interest will develop soon as they need to secure inventory before the week's over.

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