DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:54 -- December corn is down 3 1/2 cents per bushel, January soybeans are down 15 3/4 cents, December KC wheat is up 2 1/4 cents, December Chicago wheat is up 4 3/4 cents and MIAX December Minneapolis wheat is down 0.0250 cents. The Dow Jones Industrial Average is down 290.55 points. The U.S. Dollar Index is up 0.310 and December crude oil is down $0.39 per barrel. December gold is down $63.90 per ounce. Heading into the close corn and soybeans remain under pressure but both Chicago and KC wheat futures have moved higher. Without any sales confirmation, rumors of China business are just that. There is some talk that China may have bought some soft white wheat from the PNW.

Posted 10:29 -- December corn is down 4 3/4 cents per bushel, January soybeans are down 20 3/4 cents, December KC wheat is down 4 3/4 cents, December Chicago wheat is down 2 3/4 cents and MIAX December Minneapolis wheat is down 0.0175 cents. The Dow Jones Industrial Average is down 156.96 points. The U.S. Dollar Index is up 0.210 and December crude oil is down $0.38 per barrel. December gold is down $29.80 per ounce. At mid-morning all of the grain and soy markets are under heavy selling pressure, led by soybeans and soymeal. Wheat gave up early strength related to rumors of China interest in wheat. All of the markets had become overbought technically. There is still some uncertainty regarding the promised purchase of 440 mb U.S. beans by the year end, and Brazilian soy prices are weakening.

Posted 08:33 -- December corn is down 3 3/4 cents per bushel, January soybeans are down 16 3/4 cents, December KC wheat is up 1 1/4 cents, December Chicago wheat is up 3 1/4 cents and MIAX December Minneapolis wheat is up 0.0025 cents. The Dow Jones Industrial Average is down 403.62 points. The U.S. Dollar Index is up 0.290 and December crude oil is down $0.66 per barrel. December gold is down $62.40 per ounce. Corn, soybeans and products start off weaker while wheat markets are mixed to mostly higher, still supported by talk of China interest in U.S. wheat. Corn and beans are reacting to an overbought technical situation -- simply a correction of sharp gains at this point.

Livestock

Posted 11:37 -- December live cattle are down $4.10 at $228.1, January feeder cattle are down $7.25 at $329.275, December lean hogs are down $1.13 at $79.475, December corn is down 4 1/4 cents per bushel and December soybean meal is down $5.20. The Dow Jones Industrial Average is down 231.73 points and NASDAQ is down 358.23 points. The cattle complex is back to trading lower as rumors that the President is "very focused" on reopening the U.S./Mexico border have put the cattle complex back on edge. Still no cash cattle trade has developed.

Posted 08:36 -- December live cattle are up $0.35 at $232.55, January feeder cattle are up $2.43 at $338.95, December lean hogs are down $0.08 at $80.525, December corn is down 3 3/4 cents per bushel and December soybean meal is down $1.60. The Dow Jones Industrial Average is down 322.21 points and NASDAQ is down 354.30 points. The cattle complex is continuing to trade higher as the market is hopeful that fundamental support will develop later this week. Bids and asking prices are still not known in the fed cash cattle market.

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