DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:43 -- December corn is up 2 1/4 cents per bushel, January soybeans are up 1 3/4 cents, December KC wheat is up 2 cents, December Chicago wheat is up 1 cent and MIAX December Minneapolis wheat is steady. The Dow Jones Industrial Average is up 125.88 points. The U.S. Dollar Index is up 0.130 and December crude oil is up $0.40 per barrel. December gold is up $23.40 per ounce. Headed into the Wednesday close, wheat is mixed while corn and soy are only modestly firmer. Traders are on the sidelines awaiting any news from South Korea later on Wednesday, as the Trump-Xi meeting is set to start near 9 p.m. CDT. Soymeal continues its meteoric rise with a twelfth consecutive higher close likely as funds finish short covering.

Posted 10;33 -- December corn is up 1/4 cents and January soybeans are up 1 1/2 cents. December KC wheat is up 2 1/2 cents, December Chicago wheat is up 2 cents, and December MIAX Minneapolis wheat is up 2 3/4 cents. December crude oil is up $0.64 and Dow Jones futures are up 207 points. The U.S. Dollar Index is up 0.09 and December gold is up $39.60. At mid-morning, markets remain quiet overall as traders are awaiting the meeting between President Trump and China's President Xi on Thursday before making next moves. Soybean futures have recovered to even for the session and a dime above overnight lows as China officially booked their first cargoes of U.S. soybeans for the new season late Tuesday ahead of the meeting between the two leaders. Meanwhile, corn and wheat markets are chopping on either side of unchanged after hitting chart resistance earlier in the week.

Posted 08:33 -- December corn is up 1 3/4 cents per bushel, January soybeans are down 3 cents, December KC wheat is up 2 1/2 cents, December Chicago wheat is up 1 1/2 cents and MIAX December Minneapolis wheat is up 0.0375 cents. The Dow Jones Industrial Average is up 160.11 points. The U.S. Dollar Index is up 0.150 and December crude oil is up $0.31 per barrel. December gold is up $42.30 per ounce. Grain and soy markets are mixed as traders await some news from South Korea and the meeting with Trump-Xi. Soybeans and bean oil are weaker to start, while corn and wheat are slightly better.

Livestock

Posted 11:44 -- December live cattle are up $5.08 at $231.65, January feeder cattle are up $10.75 at $335.625, December lean hogs are down $0.05 at $80.775, December corn is steady and December soybean meal is up $4.30. The Dow Jones Industrial Average is up 273.89 points and NASDAQ is up 122.65 points. The cattle complex is finally trading higher again as the market has received confirmation that, although US Ag Secretary Brooke Rollins spoke with Mexico's officials last week, the border is to remain closed to Mexican cattle imports. No new cash cattle trade has developed and with the board now trading higher, there's a chance prices could be a tick better later in the week compared to what they traded at on Monday.

Posted 08:33 -- December live cattle are up $2.40 at $228.975, January feeder cattle are up $4.98 at $329.85, December lean hogs are up $0.45 at $81.275, December corn is down 1 cent per bushel and December soybean meal is up $1.40. The Dow Jones Industrial Average is up 110.48 points and NASDAQ is up 155.56 points. The cattle complex is off to a stronger start at Wednesday's open, seeming to finally found some technical support. No bids are currently on the table in the fed cash cattle market, but more trade will need to develop ahead of the week's end. Asking prices are noted in the South at $240 plus.

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