DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 3 1/4 cents per bushel, November soybeans are down 4 1/2 cents, December KC wheat is down 10 1/2 cents, December Chicago wheat is down 17 3/4 cents and December MIAX wheat is 15 3/4 cents. The Dow Jones Industrial Average is down 301.27 points. The U.S. Dollar Index is up 0.240 and October crude oil is down $0.41 per barrel. December gold is down $73.40 per ounce. Likely pressuring corn heading into the long weekend are reports corn harvest has started in the Delta as well as in Nebraska, Kentucky, and Missouri. Crude oil is trading mixed over uncertainty remaining about any peace talks taking place between the U.S. and Iran. RBOB is trading higher adding to gasoline costs for travelers hitting the road for the long Labor Day weekend.

Posted 10:30 -- December corn is down 1/2 cent per bushel, November soybeans are down 1 1/4 cents, December KC wheat is down 5 cents, December Chicago wheat is down 12 cents and December MIAX wheat is down 7 cents. The Dow Jones Industrial Average is down 386.15 points. The U.S. Dollar Index is up 0.190 and October crude oil is down $0.85 per barrel. December gold is down $48.10 per ounce. Soybeans are not showing any excitement about another private sale announced this morning, especially given there has been one every day this week. Wheat markets are still reacting to Putin's comments about peace talks, but both Russia and Ukraine have not ceased attacks.

Posted 10:39 -- December corn is down 2 3/4 cents and November soybeans are down 5 1/2 cents. December KC wheat is down 4 cents, December Chicago wheat is down 8 cents, and December MIAX Minneapolis wheat is down 4 1/2 cents. October crude oil is down $1.67 and Dow Jones futures are down 143 points. The U.S. Dollar Index is up 0.23 and December gold is down $82.20. Heading into the final session ahead of the long Labor Day weekend, row crop futures are moderately lower. Thus far for the week, profit-taking spells have been incredibly short lived with reversal action seen from lows in both Wednesday and Thursday's sessions. That being said, most markets remain technically overbought with U.S. fall harvest just around the corner, so some price pressure should be expected despite the longer-term fundamental outlook still leaning bullish.

Livestock

Posted 11:27 -- October live cattle are down $0.90 at $213.4, October feeder cattle are down $1.10 at $320., October lean hogs are down $1.08 at $82.375, December corn is down 2 3/4 cents per bushel and December soybean meal is up $0.30. The Dow Jones Industrial Average is down 244.58 points and the NASDAQ is down 82.20 points. The livestock complex is trading lower into Friday's noon hour as a lack of consistent fundamental support again sends the contracts trading lower. No new cash cattle trade has developed, and it's likely that the bulk of this week's trade is done with.

Posted 08:35 -- October live cattle are up $0.25 at $214.55, October feeder cattle are down $0.33 at $320.775, October lean hogs are down $0.73 at $82.725, December corn is down 2 3/4 cents per bushel and December soybean meal is down $2.60. The Dow Jones Industrial Average is down 108.92 points and the NASDAQ is up 20.61 points. The livestock is off again to a mixed start, as trader would love to push the market higher, but the week's fundamental support has been disappointing. No bids are currently on the table in the cash market.

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