DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:42 -- December corn is up 2 1/4 cents per bushel, November soybeans are up 9 cents, December KC wheat is up 3 1/2 cents, December Chicago wheat is up 2 1/2 cents and MIAX December Minneapolis wheat is down 0.0025 cents. The Dow Jones Industrial Average is up 116.63 points. The U.S. Dollar Index is up 0.070 and November crude oil is down $0.06 per barrel. December gold is down $69.10 per ounce. At midday the soybean and products rally has extended and corn and wheat are higher. Yield indications on corn appear to be sliding lower from USDA earlier estimates. Cheap world wheat values continue to hang over that market with Argentine wheat offers the cheapest on a FOB basis. The soy rally is happening even in the face of lost China business.

Posted 10:32 -- December corn is up 1 3/4 cents per bushel, November soybeans are up 6 3/4 cents, December KC wheat is up 1/4 cent, December Chicago wheat is up 1 cent and MIAX December Minneapolis wheat is down 0.0025 cents. The Dow Jones Industrial Average is up 15.49 points. The U.S. Dollar Index is up 0.170 and November crude oil is down $0.09 per barrel. December gold is down $38.90 per ounce. At midmorning soybeans and soymeal are very firm, corn is a bit higher and wheat is mixed in quiet trade. There is a lack of news on Friday. Trump has confirmed a late October meeting with China's Xi.

Posted 08:32 -- December corn is up 1 1/2 cents per bushel, November soybeans are up 5 1/4 cents, December KC wheat is down 1/2 cent, December Chicago wheat is up 1/2 cent and MIAX December Minneapolis wheat is up 0.0225 cents. The Dow Jones Industrial Average is up 16.82 points. The U.S. Dollar Index is up 0.060 and November crude oil is down $0.22 per barrel. December gold is up $8.90 per ounce. Corn, soybeans and soymeal are higher early Friday while bean oil and wheat markets are little changed in slow trade. There is little news early Friday, but a slightly wetter forecast could delay harvest efforts some.

Livestock

Posted 11:26 -- December live cattle are down $5.68 at $242.2, November feeder cattle are down $9.25 at $371.7, December lean hogs are down $0.08 at $82.525, December corn is up 2 cents per bushel and December soybean meal is up $3.80. The Dow Jones Industrial Average is up 202.12 points and NASDAQ is up 43.79 points. The cattle complex is continuing to trade sharply lower as traders and cattlemen alike try to understand what potential deal President Trump could be working on to cheapen beef prices. All the while, fed cash cattle prices are trading extremely well, $9.00 higher in the North and $5.00 higher in the South.

Posted 08:37 -- December live cattle are down $2.33 at $245.55, November feeder cattle are down $5.78 at $375.175, December lean hogs are up $0.10 at $82.7, December corn is up 1 1/4 cents per bushel and December soybean meal is up $2.90. The Dow Jones Industrial Average is up 47.38 points and NASDAQ is down 91.15 points. The cattle complex is starting the day off weaker as the market is uncertain what's going to come from President Trump's comments that came Thursday afternoon saying that the administration is close to having a deal done to cheapen beef prices. No new cash cattle trade is currently on the table but packer interest should improve throughout the day.

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