DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- Posted 13:06 -- December corn is down 3 cents per bushel, November soybeans are up 2 1/4 cents, December KC wheat is down 3 cents, December Chicago wheat is down 1 3/4 cents and December MIAX wheat is down 1 1/4 cents. The Dow Jones Industrial Average is up 363.74 points. The U.S. Dollar Index is down 0.010 and October crude oil is down $0.51 per barrel. December gold is up $12.60 per ounce. Heading for Thursday's close, soymeal is once again leading the charge to the upside, setting new contract highs in each of the past four days. Corn, wheat and bean oil remain under pressure. Funds have sold some longs in corn, beans and bean oil while buying meal. Treasury Secretary Bessent will meet with Chinese representatives over the weekend ahead of next week's meeting.
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Posted 10:34 -- December corn is down 5 1/4 cents per bushel, November soybeans are down 3 cents, December KC wheat is down 6 cents, December Chicago wheat is down 4 3/4 cents and December MIAX wheat is down 2 3/4 cents. The Dow Jones Industrial Average is up 290.14 points. The U.S. Dollar Index is down 0.030 and October crude oil is down $1.74 per barrel. December gold is up $10.70 per ounce. At mid-morning corn, wheat and bean oil remain under heavy pressure while soybean meal has again surged to a new high. Likely soymeal-soybean oil spreading is driving that spread. Crude oil continues its correction to the downside.
Posted 08:32 -- December corn is down 3 cents and November soybeans are down 1 3/4 cents. December KC wheat is down 10 1/2 cents, December Chicago wheat is down 11 3/4 cents, and December MIAX Minneapolis wheat is down 6 1/2 cents. October crude oil is down $1.87 and Dow Jones futures are up 400 points. The U.S. Dollar Index is down 0.14 and December gold is up $19.10. Row crop futures are lower to open Thursday's session, other than soybean meal which continues its rally to over two-year highs. News is quiet this week as futures have priced in the recent fundamental outlook at look ahead to U.S. harvest and South American planting.
Livestock
Posted 11:39 -- December live cattle are down $1.93 at $218.275, October feeder cattle are down $3.58 at $326.075, October lean hogs are up $0.15 at $78.825, December corn is down 5 1/2 cents per bushel and December soybean meal is up $7.00. The Dow Jones Industrial Average is up 354.69 points and the NASDAQ is up 403.34 points. Some light cash cattle trade has been noted at $350 dressed, which is steady with last week's weighted average in the North. Bids of $220 are currently on the table in the South, but no trade has developed yet in that region.
Posted 08:34 -- December live cattle are up $0.25 at $220.45, October feeder cattle are up $0.28 at $329.925, October lean hogs are down $0.05 at $78.625, December corn is down 1 3/4 cents per bushel and December soybean meal is up $5.30. The Dow Jones Industrial Average is up 364.74 points and the NASDAQ is up 378.83 points. Following Wednesday's weaker close, the cattle contracts are now trading mildly higher into Thursday's open. Packer interest should improve throughout the day but currently no bids are being offered.
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