DTN’s Grain Quick Takes

DTN’s Grain Quick Takes

OMAHA (DTN) — Posted 12:44 — December corn is up 1/2 cent per bushel, November soybeans are down 15 3/4 cents, December KC wheat is down 9 1/4 cents, December Chicago wheat is down 8 1/4 cents and MIAX December Minneapolis wheat is down 0.0650 cents.  The Dow Jones Industrial Average is down 331.24 points. The U.S. Dollar Index is up 0.530 and October crude oil is up $1.69 per barrel. December gold is up $73.60 per ounce. Heading into the Tuesday close, soybeans, soymeal and wheat remain under severe pressure, while bean oil gathers strength from the higher crude market, and corn has worked back toward unchanged to even slightly higher for the day. The elusive trade deal with China has set the stage for Tuesday’s soy weakness. Wheat is being pressured by ABARES increase by 2.8 mmt of their Australian wheat crop estimate.

Posted 10:33 — December corn is down 1 cent per bushel, November soybeans are down 15 1/4 cents, December KC wheat is down 10 1/4 cents, December Chicago wheat is down 8 3/4 cents and MIAX December Minneapolis wheat is down 0.1000 cents. The Dow Jones Industrial Average is down 493.50 points. The U.S. Dollar Index is up 0.470 and October crude oil is up $1.32 per barrel. December gold is up $62.80 per ounce. Soybeans and wheat remain down hard while the corn market has bounced to within a penny of unchanged. Soybeans and soymeal are under heavy pressure while bean oil is getting support from the stronger crude oil market.

Posted 08:34 — December corn is down 4 1/2 cents per bushel, November soybeans are down 15 cents, December KC wheat is down 10 1/2 cents, December Chicago wheat is down 10 1/2 cents and MIAX December Minneapolis wheat is down 0.0975 cents. The Dow Jones Industrial Average is down 566.23 points. The U.S. Dollar Index is up 0.620 and October crude oil is up $0.78 per barrel. December gold is up $27.90 per ounce. Grain and soybean markets are down hard to begin the new week with soybeans leading the way down. The failure to get any sort of trade deal solidified with China late last week has really dampened any bullish enthusiasm in soybeans. The sharply higher dollar and lower equities are also casting a bearish pall over the markets.

Posted 19:05 Sunday — December corn is down 3 1/4 cents per bushel, November soybeans are down 6 cents, December KC wheat is down 5 cents, December Chicago wheat is down 4 1/2 cents and MIAX December Minneapolis wheat is down 0.0800 cents.  The Dow Jones Industrial Average futures price is down 22 points. The U.S. Dollar Index is down 0.120 and October crude oil is up $0.62 per barrel. December gold is up $35.70 per ounce. The weekend featured some good rain for parts of the western belt and Plains, but the southern and eastern Corn Belt could use some rain. The China trade representative left Washington without a trade deal in hand, and that will continue to weigh on beans. Russian wheat prices have again fallen in the past week as supplies are growing and importers are quiet. Trade estimates of the Russian wheat crop are moving higher.  Grain and soy markets begin Monday night under heavy pressure.