DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 3 1/2 cents and November soybeans are down 9 cents. December KC wheat is down 7 1/2 cents, December Chicago wheat is down 8 3/4 cents, and December MIAX Minneapolis wheat is down 3 3/4 cents. November crude oil is down $0.89 and Dow Jones futures are up 88 points. The U.S. Dollar Index is down 0.03 and December gold is down $.00. Row crop futures are moderately lower to begin the new week. Grain markets enter the week in a precarious situation after USDA stunned the marketplace on Friday with a 2.7 bushel per acre increase to the national corn yield. Between a suddenly and significantly less bullish situation on paper for corn and a good past week for the advancement of U.S. harvest, bullish traders may grow nervous regarding their long positions. Soybeans, on the other hand, may still have some bullish steam left after mostly neutral USDA releases on Friday, though are thus far leading row crops lower on Sunday. Earlier Sunday, President Trump posted on social media that an energy ceasefire had been agreed to between Russia and Ukraine in the Black Sea, though the validity of the claim will surely be tested in the coming days as attacks have once again escalated through early October.

Livestock