DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:50-- December corn is down 7 1/4 cents per bushel, November soybeans are down 9 3/4 cents, December KC wheat is down 18 1/4 cents, December Chicago wheat is down 17 3/4 cents and December MIAX wheat is down 12 cents. The Dow Jones Industrial Average is down 291.58 points. The U.S. Dollar Index is up 0.440 and November crude oil is down $1.39 per barrel. December gold is down $48.40 per ounce. Heading into the Wednesday close, grain and soy markets are under heavy selling pressure led by bean oil and wheat. I assume that managed money funds are lightening up on their net long positions ahead of Friday's October WASDE report. Harvest is accelerating and Gulf CIF beans are said to have fallen 6 cents today on the basis as supplies loosen up.

Posted 10:30 -- December corn is down 5 1/4 cents per bushel, November soybeans are down 7 1/4 cents, December KC wheat is down 15 cents, December Chicago wheat is down 15 cents and December MIAX wheat is down 8 1/2 cents. The Dow Jones Industrial Average is down 524.15 points. The U.S. Dollar Index is up 0.510 and November crude oil is down $0.11 per barrel. December gold is down $56.60 per ounce. At mid-morning, the losses are mounting with bean oil and wheat futures leading the sell-off, while soybean meal rises to a new daily high. News is scarce, but markets are correcting from Tuesday's big rally ahead of Friday's October WASDE report.

Posted 08:31 -- December corn is down 3 3/4 cents per bushel, November soybeans are up 1 cent, December KC wheat is down 9 1/4 cents, December Chicago wheat is down 8 1/2 cents and December MIAX wheat is down 4 3/4 cents. The Dow Jones Industrial Average is down 346.29 points. The U.S. Dollar Index is up 0.580 and November crude oil is up $1.26 per barrel. December gold is down $67.60 per ounce. Grain and soy markets are leaking lower in a correction of Tuesday's strong gains. Pressure is coming from the surging U.S. Dollar which is approaching the high.

Livestock

Posted 11:19-- December live cattle are down $0.93 at $223.175, November feeder cattle are down $2.78 at $335.5, December lean hogs are down $1.45 at $68.925, December corn is down 6 1/2 cents per bushel and December soybean meal is up $7.70. The Dow Jones Industrial Average is down 376.28 points and NASDAQ is down 131.80 points. With better fundamental support, the livestock complex is trading lower into Wednesday's noon hour. No cash cattle trade has developed yet and trade will likely be delayed for at least another day if not two.

Posted 08:35 -- December live cattle are down $0.48 at $223.625, November feeder cattle are down $1.00 at $337.275, December lean hogs are down $0.63 at $69.75, December corn is down 4 1/4 cents per bushel and December soybean meal is up $2.80. The Dow Jones Industrial Average is down 349.65 points and the NASDAQ is down 145.89 points. The livestock complex is trading lower at Wednesday's start as traders hope to see greater fundamental support. Still no cash cattle trade has developed and both bids and asking prices remain elusive at this point.