DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- September corn is down 3 3/4 cents and August soybeans are down 7 1/2 cents on Sunday evening. December corn is down 3 3/4 cents and November soybeans are down 6 1/4 cents. September KC wheat is down 4 1/2 cents, September Chicago wheat is down 4 3/4 cents, and September MIAX Minneapolis wheat is down 1 3/4 cents. August crude oil is up $0.12 and Dow Jones futures are down 164 points. The U.S. Dollar Index is up 0.03 and August gold is up $18. Grain markets are lower to begin the new week as traders were quick to shrug off Friday's USDA reports and return to focusing on plentiful rain for the U.S. grain belt through July. In weekend news, President Donald Trump announced a 30% tariff against Mexico and the EU would go into effect Aug. 1. It is unclear at this point whether goods covered by the United States-Mexico-Canada trade agreement will continue to be exempt from the new tariffs on that date. Mexico is far and away the largest customer for U.S. corn and wheat exports.

Livestock

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