DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- Posted 12:41 -- December corn is up 1 cent per bushel, November soybeans are up 13 cents, December KC wheat is down 1 1/2 cents, December Chicago wheat is up 3/4 cent and MIAX December Minneapolis wheat is up 0.0025 cents. The Dow Jones Industrial Average is up 518.55 points. The U.S. Dollar Index is up 0.170 and December crude oil is down $0.39 per barrel. December gold is up $149.90 per ounce. Heading into the Monday close, soybeans and soymeal remain very strong while corn and bean oil futures are modestly higher. Equity and gold markets are sharply higher. Funds have been buyers of soybeans and soymeal. The strength in soybeans is resting on a possible U.S.-China trade deal at some point.
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Posted 10:37 -- December corn is down 2 1/2 cents per bushel, November soybeans are up 8 3/4 cents, December KC wheat is down 1/2 cent, December Chicago wheat is up 1 cent and MIAX December Minneapolis wheat is up 0.0100 cents. The Dow Jones Industrial Average is up 366.93 points. The U.S. Dollar Index is up 0.040 and December crude oil is down $0.41 per barrel. December gold is up $150.10 per ounce. At midmorning the soy complex remains very firm with even bean oil futures overcoming early weakness to trade higher. Inspections were very solid on both corn and soybeans last week. Optimism that a trade deal is forthcoming from the administration is likely giving the soy market a boost.
Posted 08:34 -- December corn is down 1 1/2 cents per bushel, November soybeans are up 8 cents, December KC wheat is down 1 3/4 cents, December Chicago wheat is down 3/4 cent and MIAX December Minneapolis wheat is up 0.0075 cents. The Dow Jones Industrial Average is up 216.62 points. The U.S. Dollar Index is up 0.140 and December crude oil is down $0.65 per barrel. December gold is up $117.00 per ounce. Soybeans and soymeal higher following some optimistic comments from the Trump administration regarding China, but time is running thin to get a soybean deal with the world's number one consumer. China is reportedly already covered into December. Corn and wheat are slightly weaker in dull trade.
Posted 19:09 Sunday -- December corn is up 1 cent, and November soybeans are up 2 1/4 cents. December KC wheat is up 2 1/4 cents, December Chicago wheat is up 2 1/2 cents, and December MIAX Minneapolis wheat is down 1 cent. December crude oil is down $0.18, and Dow Jones futures are down 4 points. The U.S. Dollar Index is up 0.10, and December gold is up $33.30. Row-crop futures are modestly higher to begin the new week. U.S. and Chinese officials held a phone call on Saturday and agreed to more negotiations this coming week, ahead of the summit between U.S. President Donald Trump and Chinese President Xi Jinping at the end of the month. Corn, soy and wheat markets will be up against technical resistance to begin the new week after posting decent recovery efforts last week. Meanwhile, U.S. harvest moves ahead and is likely heading into the last remaining 20%-30% of areas nationally for corn and soybeans, which may assist prices as supply pressure eases.
LivestockPosted 11:43 -- December live cattle are up $2.13 at $243.95, November feeder cattle are up $2.10 at $373.8, December lean hogs are down $0.08 at $82.3, December corn is down 1/2 cent per bushel and December soybean meal is steady. The Dow Jones Industrial Average is up 410.80 points and NASDAQ is up 301.66 points. The livestock complex is trading higher into Monday's noon hour as, by and large, traders are willing to advance the contracts following Friday's sharp decline. New showlists appear to be lower in all major feeding areas again this week.
Posted 08:40 -- December live cattle are up $3.05 at $244.875, November feeder cattle are up $3.08 at $374.775, December lean hogs are up $0.18 at $82.55, December corn is down 1 1/2 cents per bushel and December soybean meal is up $4.20. The Dow Jones Industrial Average is up 217.79 points and NASDAQ is up 180.97 points. Although the cattle contracts fell sharply lower Friday afternoon, the market is mildly recovering some of that lost position. If either the cattle or lean hog markets are to trade higher today, it will be imperative that fundamental support is plentiful.
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