DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:48 -- December corn is up 3 1/4 cents per bushel, January soybeans are up 10 1/2 cents, December KC wheat is up 3 cents, December Chicago wheat is up 3 1/2 cents and MIAX December Minneapolis wheat is down 0.0050 cents. The Dow Jones Industrial Average is up 295.97 points. The U.S. Dollar Index is up 0.020 and December crude oil is down $0.81 per barrel. December gold is up $30.00 per ounce. Going into the Wednesday close, corn, soybeans, soy products and wheat are all higher in low volume trade. December corn is bouncing up against formidable resistance in the $4.35 to $4.40 area. Traders await some confirmation that China is adhering to their promise to buy U.S. beans.

Posted 10:31 -- December corn is up 2 3/4 cents per bushel, January soybeans are up 10 cents, December KC wheat is down 1 1/4 cents, December Chicago wheat is steady and MIAX December Minneapolis wheat is down 0.0175 cents. The Dow Jones Industrial Average is up 49.89 points. The U.S. Dollar Index is up 0.050 and December crude oil is down $0.14 per barrel. December gold is up $32.30 per ounce. Corn, soybeans and soymeal are very firm while wheat markets remain under pressure. The ability for December corn to work through major chart resistance from $4.35-$4.40 would be a positive for that market. On soybeans, China's buying activity versus intentions is unknown, but traders are reluctant to sell this market and expectations for next week's fall in yield and production on the WASDE.

Posted 08:31 -- December corn is down 3/4 cent per bushel, January soybeans are up 3 3/4 cents, December KC wheat is down 3 3/4 cents, December Chicago wheat is down 3 1/4 cents and MIAX December Minneapolis wheat is down 0.0075 cents. The Dow Jones Industrial Average is up 16.03 points. The U.S. Dollar Index is up 0.030 and December crude oil is down $0.41 per barrel. December gold is up $32.10 per ounce. In quiet trade soybeans and soy products are up to start while wheat and corn are lower. While China has agreed to suspend the retaliatory tariffs, they maintain a 13% tariff on importing U.S. ag products.

Livestock

Posted 11:43 -- December live cattle are down $7.25 at $220.525, January feeder cattle are down $9.25 at $319.975, December lean hogs are up $0.90 at $80.825, December corn is up 3 1/2 cents per bushel and December soybean meal is up $5.50. The Dow Jones Industrial Average is up 362.08 points and NASDAQ is up 247.38 points. Some light trade has also developed in the countryside as Northern dressed deals are being marked at $360, which is $2.00 higher than last week's weighted average, but Southern live cattle are trading at $232, which is $4.00 lower than last week's weighted average. But upon seeing the board drift sharply lower, bids have been knocked lower as packers are now just offering $357 to $358 for dressed cattle and $225 for live.

Posted 08:37 -- December live cattle are up $0.08 at $227.85, January feeder cattle are up $0.83 at $330.05, December lean hogs are up $0.30 at $80.225, December corn is down 3/4 cent per bushel and December soybean meal is up $3.70. The Dow Jones Industrial Average is up 23.91 points and NASDAQ is down 20.85 points. The cattle complex is off to a mixed start, still not confident in which direction the cattle market should trade. Still no cash cattle trade has developed and both bids and asking prices are still elusive.

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