DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:45 -- December corn is up 5 3/4 cents per bushel, January soybeans are up 33 3/4 cents, March KC wheat is up 14 3/4 cents, December Chicago wheat is up 17 1/4 cents and MIAX March Minneapolis wheat is up 0.0575 cents. The Dow Jones Industrial Average is down 240.24 points. The U.S. Dollar Index is up 0.200 and December crude oil is down $0.03 per barrel. December gold is down $23.80 per ounce. Heading into the Monday close, corn, wheat and soy product futures are sharply higher. Funds have been buying in size and as of noon CST were estimated to have bought 17,000 contracts of soybeans, 7,000 corn, 10,000 wheat and a combined 11,000 of soy products, Reports are that from 7 to 10 cargoes of U.S. beans were sold to China with some from Gulf and some from PNW. The estimate is that total China bean purchases amount to roughly 1 mmt, but that is a far cry from the promised 12 mmt. In other bullish news, the October soy crush was a record large 227.9 mb with two new plants in operation.

Posted 10:28 -- December corn is up 5 1/2 cents per bushel, January soybeans are up 26 1/2 cents, March KC wheat is up 15 cents, December Chicago wheat is up 16 1/4 cents and MIAX March Minneapolis wheat is up 0.0625 cents. The Dow Jones Industrial Average is down 158.24 points. The U.S. Dollar Index is up 0.150 and December crude oil is down $0.05 per barrel. December gold is down $26.30 per ounce. At mid-morning on Monday, corn, wheat, soybeans and products are all sharply higher, recovering most of the losses on Friday. Soybeans are very firm despite still no substantial China purchases of U.S. beans. The strength in wheat is impressive with little news in light of the fact that U.S. and world production and supplies were higher than trade expectations Friday.

Posted 08:32 -- December corn is up 3 1/2 cents per bushel, January soybeans are up 21 cents, March KC wheat is up 10 3/4 cents, December Chicago wheat is up 11 cents and MIAX March Minneapolis wheat is up 0.0650 cents. The Dow Jones Industrial Average is down 93.97 points. The U.S. Dollar Index is up 0.160 and December crude oil is down $0.13 per barrel. December gold is down $24.00 per ounce. Corn, wheat and soybeans are rebounding sharply from Friday's post-WASDE pummeling. Soybeans continue to be resilient and have recovered much of Friday's loss.

Posted 19:09 Sunday -- On Sunday evening, December corn is down 3/4 cent per bushel, January soybeans are down 7 1/2 cents, March KC wheat is up 1 cent, December Chicago wheat is up 1/4 cent and MIAX March Minneapolis wheat is down 0.0675 cents. The Dow Jones futures are down 6 points. The U.S. Dollar Index is up 0.080 and December crude oil is down $0.57 per barrel. December gold is down $3.20 per ounce. Soybeans and corn open weaker in follow-through from Friday, while wheat is mixed to higher. The weekend saw no news from China regarding the soybean deal with the U.S. and better-than-expected rain in Argentina and southern Brazil. There is rain headed for central and northern Brazil. The bearish USDA November Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports on Friday are likely to lead to additional selling early. China was reported to have bought another two to three cargoes of Brazilian beans on Friday.

Livestock

Posted 11:44 -- December live cattle are up $1.28 at $220.425, January feeder cattle are up $4.28 at $324.825, December lean hogs are up $0.15 at $78.65, December corn is up 5 1/4 cents per bushel and December soybean meal is up $6.80. The Dow Jones Industrial Average is down 61.74 points and NASDAQ is down 9.37 points. Last week's negotiated cash cattle trade totaled 55,342 head. Of that 83% (45,792 head) were committed to the market's nearby delivery, while the remaining 17% (9,550 head) were committed to the market's deferred delivery option. New showlists appear to be mixed, higher in Texas, but lower in Kansas and Nebraska/Colorado.

Posted 08:38 -- December live cattle are down $0.35 at $218.8, January feeder cattle are down $0.18 at $320.375, December lean hogs are up $0.28 at $78.775, December corn is up 3 cents per bushel and December soybean meal is up $5.10. The Dow Jones Industrial Average is down 129.08 points and NASDAQ is down 41.30 points. The cattle complex is off to a slightly weaker start, as traders again look to the market's fundamentals for support. It will be imperative to check the mid-morning report on how last week's negotiated fed cattle were committed as we know some of the cattle were deferred to the first few weeks of December, but aren't sure exactly how many.

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