DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is up 4 1/2 cents per bushel, November soybeans are up 8 1/2 cents, December KC wheat is up 11 1/4 cents, December Chicago wheat is up 8 1/2 cents and MIAX December Minneapolis wheat is up 0.0875 cents. The Dow Jones Industrial Average is up 189.03 points. The U.S. Dollar Index is up 0.120 and December crude oil is up $3.47 per barrel. December gold is up $82.90 per ounce. Strong gains in corn, wheat and soybeans are the feature on Thursday driven by both basis gains and optimism that the weekend meeting with China trade representatives might lead to some positive news. Also driving beans is a rumor, said to be unfounded, on social media that China bought over 1 mmt of U.S. soybeans. The markets are strong, but so far its on seasonal strength, short covering and hope for a trade deal.

Posted 10:37 -- December corn is up 3/4 cent per bushel, November soybeans are up 4 3/4 cents, December KC wheat is up 8 cents, December Chicago wheat is up 5 cents and MIAX December Minneapolis wheat is up 0.0500 cents. The Dow Jones Industrial Average is up 75.41 points. The U.S. Dollar Index is up 0.110 and December crude oil is up $3.14 per barrel. December gold is up $96.30 per ounce. At mid-morning, corn, wheat and soybeans are still trading higher with KC wheat and soybean oil leading the gains. Some seasonal strength and short covering are likely occurring. Traders are awaiting any good news that comes out of the proposed trade meetings with China this week and next week.

Posted 08:36 -- December corn is down 3/4 cent per bushel, November soybeans are up 3 1/2 cents, December KC wheat is up 1 cent, December Chicago wheat is down 3/4 cent and MIAX December Minneapolis wheat is down 0.0025 cents. The Dow Jones Industrial Average is down 5.53 points. The U.S. Dollar Index is up 0.100 and December crude oil is up $2.91 per barrel. December gold is up $92.00 per ounce. Corn and wheat are mixed in slow trade, while soybeans and bean oil are higher. Traders are hopeful that trade discussions with China over the weekend and next week could lead to a trade deal.

Livestock

Posted 11:45 -- December live cattle are up $2.08 at $241.9, November feeder cattle are down $0.98 at $363.25, December lean hogs are down $0.35 at $82.05, December corn is up 1 1/2 cents per bushel and December soybean meal is up $0.80. The Dow Jones Industrial Average is up 100.71 points and the NASDAQ is up 175.04 points. The livestock complex is trading mixed as traders are apprehensive about doing anything significant in the markets this week following the turmoil that's clouded the marketplace recently. A few bids are currently on the table in Nebraska, but still no significant trade has developed. It's most likely that trade will be delayed until Friday as feedlot managers want to see prices trade higher again this week.

Posted 08:38 -- December live cattle are up $2.28 at $242.1, November feeder cattle are up $1.20 at $365.425, December lean hogs are steady, December corn is down 3/4 cent per bushel and December soybean meal is down $0.30. The Dow Jones Industrial Average is up 11.74 points and NASDAQ is down 3.31 points. Following Wednesday's weaker close, the cattle contracts are back to trading higher after having gotten to see what Ag Secretary Brooke Rollins shared Wednesday afternoon. Still no cash cattle trade has developed but packer interest should improve.

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