DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:48 -- December corn is down 10 cents per bushel, January soybeans are down 19 cents, December KC wheat is down 10 1/2 cents, December Chicago wheat is down 9 cents and MIAX December Minneapolis wheat is down 0.0450 cents. The Dow Jones Industrial Average is down 303.27 points. The U.S. Dollar Index is up 0.170 and December crude oil is up $1.40 per barrel. December gold is down $95.50 per ounce. Grain and soy markets are melting down in unison after the November WASDE showed corn and soy yields to only be modestly lower than in September, and world wheat stocks of major exporters rose by close to 13 mmt (478 mb). Adding fuel to the bearish fire was the data dump of daily sales from Oct. 2 through Nov. 12. That report showed sales of just 332,000 mt of soybeans to China and another 355,000 mt of beans to unknown destinations. The 25 mb combined does not come close to the 440 mb that China pledged to buy by end of December.

Posted 10:29 -- December corn is up 1/4 cent per bushel, January soybeans are up 1/4 cent, December KC wheat is up 2 cents, December Chicago wheat is up 2 cents and MIAX December Minneapolis wheat is up 0.0100 cents. The Dow Jones Industrial Average is down 169.84 points. The U.S. Dollar Index is up 0.150 and December crude oil is up $1.52 per barrel. December gold is down $91.10 per ounce. Heading into the USDA November report release in 30 minutes, corn, wheat and soybeans are gravitating around unchanged levels. Be prepared for highly volatile trade once both yield and production and daily export sales are released at noon eastern time. It will be interesting to see if China does show up in any daily sales that we have missed due to the shutdown.

Posted 08:31 -- December corn is up 1/2 cent per bushel, January soybeans are up 2 1/4 cents, December KC wheat is up 5 cents, December Chicago wheat is up 6 1/2 cents and MIAX December Minneapolis wheat is up 0.0175 cents. The Dow Jones Industrial Average is down 475.90 points. The U.S. Dollar Index is down 0.030 and December crude oil is up $1.14 per barrel. December gold is down $139.10 per ounce. Soybeans are modestly higher, corn mixed and wheat firm to start. Traders are biding their time, awaiting the first real data in over six weeks with the November USDA and WASDE report.

Livestock

Posted 11;42 -- December live cattle are up $0.50 at $219.5, January feeder cattle are up $2.80 at $321.25, December lean hogs are up $0.78 at $78.85, December corn is down 9 cents per bushel and December soybean meal is down $3.40. The Dow Jones Industrial Average is down 79.82 points and NASDAQ is up 192.66 points. The livestock contracts are trading higher into Friday's noon hour as traders seem eager to lend the market a little extra support. No new cash cattle trade has developed Friday and it's looking like the bulk of this week's trade is essentially done.

Posted 08:36 -- December live cattle are down $2.63 at $216.375, January feeder cattle are down $6.28 at $312.175, December lean hogs are up $0.18 at $78.25, December corn is down 1 cent per bushel and December soybean meal is up $0.50. The Dow Jones Industrial Average is down 534.75 points and NASDAQ is down 419.21 points. The cattle complex is off to a weaker start as traders are still disappointed in the market's weaker fundamentals. No new bids are on the cash cattle market following Thursday's trade, and it's likely that the bulk of this week's trade is essentially done with.

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