DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- July corn is up 12 1/2 cents per bushel, July soybeans are up 14 1/2 cents, July KC wheat is down 1 1/4 cents, July Chicago wheat is up 11 1/4 cents and July Minneapolis wheat is up 8 cents. The Dow Jones Industrial Average is up 262.85 points and July crude oil is up $0.64 per barrel. The U.S. Dollar Index is unchanged and June gold is up $0.40 per ounce. Corn and soybeans continue to move higher, led by new-crop contracts. A warning about the potential for a Midwest expanding drought was put out by NOAA on Friday, leading to more buying. Positive economic news and thoughts that debt ceiling discussions are moving in the right direction have supported outside markets.

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Posted 10:32 -- July corn is up 10 3/4 cents per bushel, July soybeans are up 14 3/4 cents, July KC wheat is up 1 1/2 cents, July Chicago wheat is up 8 cents and July Minneapolis wheat is up 7 1/2 cents. The Dow Jones Industrial Average is up 272.28 points and July crude oil is up $0.94 per barrel. The U.S. Dollar Index is up 0.160 and June gold is down $3.30 per ounce. Corn, soybeans and soymeal are leading the way higher at midmorning, while wheat is still higher, but well under the early highs. Outside markets have rallied back, with crude oil and equities higher on some positive economic news regarding consumer spending.

Posted 08:40 -- July corn is up 3 3/4 cents per bushel, July soybeans are up 9 1/4 cents, July KC wheat is up 7 3/4 cents, July Chicago wheat is up 6 1/4 cents and July Minneapolis wheat is up 11 cents. The Dow Jones Industrial Average is up 67.10 points and July crude oil is up $0.99 per barrel. The U.S. Dollar Index is down 0.110 and June gold is up $4.00 per ounce. Friday begins as an all-around risk-on day for ag crop futures, with new-crop corn and soy futures leading the way on a mostly warm and dry forecast into the end of the first week of June. A bit more optimism that a debt ceiling agreement can be reached by Monday is also propping up assets.

Livestock

Posted 11:25 -- August live cattle are up $0.23 at $165.0, August feeder cattle are down $0.55 at $234.15, July lean hogs are down $1.70 at $75.55, July corn is up 12 cents per bushel and July soybean meal is up $7.40. The Dow Jones Industrial Average is up 299.85 points. The live cattle complex is continuing to trade higher, but 0 feeder cattle contracts are lower as traders can't help but fear the 12- to 15-cent rally taking place in corn futures. No new cash cattle trade has been reported and it's likely the week's business is done with.

Posted 08:36 -- August live cattle are up $0.43 at $165.2, August feeder cattle are down $0.33 at $234.375, July lean hogs are down $0.40 at $76.85, July corn is up 3 3/4 cents per bushel and July soybean meal is up $2.30. The Dow Jones Industrial Average is up 69.10 points. The live cattle contracts are rallying aggressively at Friday's start as the week's cash cattle trade continues to drive prices higher. Meanwhile both the lean hog and feeder cattle markets are trading either lower or mixed as higher prices pressures their markets.

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