DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 1 3/4 cents and November soybeans are down 2 1/4 cents. December KC wheat is down 7 1/2 cents, December Chicago wheat is down 7 3/4 cents, and December MIAX Minneapolis wheat is down 6 cents. October crude oil is up $1.33 and Dow Jones futures are down 157 points. The U.S. Dollar Index is down 0.10 and December gold is down $23.30. After one of the most bullish August weeks for price action on record last week, row crop futures are slightly softer on the open to the new week. Trader bias has rapidly swung to the bullish side of the aisle through August on lower U.S. yield ideas, red-hot demand, and perhaps most significantly, the export disruption for grains in the Black Sea -- the latter which continues with little end in sight. Looking ahead, though there is little denying the bullish shift in fundamentals through the late summer, noncommercial traders are historically long given the time of the year, which may leave the market vulnerable to profit-taking bouts especially with U.S. harvest just around the corner.

Livestock

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