DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Posted 12:39 -- December corn is up 7 1/4 cents per bushel, November soybeans are up 23 1/2 cents, December KC wheat is up 3 3/4 cents, September Chicago wheat is up 3/4 cent and December MIAX wheat is down 1 1/4 cents. The Dow Jones Industrial Average is down 317.38 points. The U.S. Dollar Index is down 0.090 and September crude oil is up $1.99 per barrel. December gold is up $32.70 per ounce. Heading into the Monday closing bell, soybeans and bean oil are flying high while corn is also enjoying solid gains. Sizable fund buying is evident in all three of those markets. The July NOPA crush was record large at 216.7 mb, but close to 5 mb below the average estimate. A just-started Midwest crop tour is finding disappointing corn yields on the first day. In France, the farm ministry is more pessimistic on the maize crop there than previously.

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Posted 10:28 -- December corn is up 5 3/4 cents per bushel, November soybeans are up 17 cents, December KC wheat is down 1/4 cent, September Chicago wheat is down 1/2 cent and December MIAX wheat is up 1/4 cent. The Dow Jones Industrial Average is down 178.09 points. The U.S. Dollar Index is down 0.140 and September crude oil is up $0.16 per barrel. December gold is up $44.40 per ounce. At midmorning soybeans and soybean oil are screaming higher, corn is very firm and wheat is climbing back toward unchanged and now a dime off the morning lows.

Posted 08:34 -- December corn is up 3/4 cent per bushel, November soybeans are up 6 1/4 cents, December KC wheat is down 8 3/4 cents, September Chicago wheat is down 8 cents and December MIAX wheat is down 2 1/4 cents. The Dow Jones Industrial Average is down 148.74 points. The U.S. Dollar Index is down 0.250 and September crude oil is up $0.36 per barrel. December gold is up $7.70 per ounce. Soybeans and soy products are higher, corn is little changed and wheat markets are down in a correction from Friday's strong gains. There were no new China soy purchases confirmed despite rumors of large purchases last week.

Posted 17:10 on Sunday, Aug. 16 -- December corn is unchanged, and November soybeans are down 2 3/4 cents. September KC wheat is down 1/4 cents, September Chicago wheat is down 3/4 cents and September MIAX Minneapolis wheat is down 1 1/4 cents. September crude oil is down $0.16, and Dow Jones futures are up 6 points. The U.S. Dollar Index is down 0.11, and December gold is down $8.80. Row-crop futures are quiet and mixed to open trade on Sunday evening. Wheat futures jumped last week to the highest weekly close of the calendar year for most-active KC futures, as traders begin to awaken to what appears to be little optimism for a ceasefire in the Black Sea, with grain exporting capabilities now severely limited through that crucial corridor. Corn and soybean markets also enter the week with plenty of bullish arguments to be made, but it is worth noting that typical late-summer seasonal pressure may still be a factor ahead of the U.S. harvest. Crop weather through the final stretch of the season, as well as geopolitics, stand to remain as the primary drivers of price for the time being.

Livestock

Posted 11:42 -- October live cattle are down $0.43 at $218.45, September feeder cattle are down $2.55 at $332., October lean hogs are down $0.15 at $81.6, December corn is up 6 1/4 cents per bushel and December soybean meal is up $2.30. The Dow Jones Industrial Average is down 154.59 points and the NASDAQ is up 3.52 points. New showlists for the week are mostly steady in Texas and Nebraska, but higher in Kansas. The livestock complex is trading mixed into Monday's noon hour as traders try to gauge where the complex is headed next, but if there's one thing certain, fundamental support is going to be necessary if the contracts are going to trade much higher.

Posted 08:36 -- October live cattle are up $0.48 at $219.35, September feeder cattle are up $0.70 at $335.25, October lean hogs are up $0.18 at $81.925, December corn is up 3/4 cent per bushel and December soybean meal is up $0.20. The Dow Jones Industrial Average is down 145.43 points and the NASDAQ is up 20.41 points. The livestock complex is trading higher at Monday's start as traders are hopeful that this week could be more prosperous for the livestock industry. Do note that on this upcoming Friday, the monthly Cattle on Feed report is set to be released.

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