DTN’s Grain Quick Takes

OMAHA (DTN) — Posted 12:47 — December corn is down 2 1/4 cents per bushel, November soybeans are down 6 1/4 cents, December KC wheat is down 3 1/4 cents, December Chicago wheat is down 4 1/4 cents and MIAX December Minneapolis wheat is down 0.0625 cents. The Dow Jones Industrial Average is down 255.90 points. The U.S. Dollar Index is up 0.010 and October crude oil is up $1.13 per barrel. December gold is up $3.20 per ounce. Heading into Wednesday’s close, corn, soybeans, soymeal and wheat are under pressure. Record crops from the advancing harvest, a slowing demand picture and growing world wheat supplies along with China’s avoidance of U.S. ag products are pressuring the markets ahead of the September WASDE Friday. The USDA will be forced to lower soy export demand to some extent. 

Posted 10:32 — December corn is down 2 1/2 cents per bushel, November soybeans are down 5 1/4 cents, December KC wheat is down 2 1/4 cents, December Chicago wheat is down 3 1/2 cents and MIAX December Minneapolis wheat is down 0.0425 cents. The Dow Jones Industrial Average is down 289.91 points. The U.S. Dollar Index is down 0.140 and October crude oil is up $0.93 per barrel. December gold is up $1.80 per ounce. At mid-morning all of the markets have turned weaker with all but soybean oil lower. Soybeans are leading the way with November just 2 1/2 cents from the closely watched 50-day moving average. A fall and close under that would be construed as bearish. December corn is also within 3 cents of that benchmark. 

Posted 08:35 — December corn is down 3/4 cent per bushel, November soybeans are down 1/2 cent, December KC wheat is down 1 3/4 cents, December Chicago wheat is down 1 3/4 cents and MIAX December Minneapolis wheat is down 0.0250 cents. The Dow Jones Industrial Average is down 49.02 points. The U.S. Dollar Index is down 0.130 and October crude oil is up $0.48 per barrel. December gold is up $9.60 per ounce. Corn, wheat and soybeans are moderately lower with some pressure coming from net tariff threats from the Trump administration against India and China to halt their purchase of Russian oil. That and the advancing monster harvest with the likely storage issues is weighing on markets. Key on the 50-day averages at $4.14 on Dec corn and $10.34 on Nov beans with a fall below those levels bearish.