DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 9 1/2 cents per bushel, November soybeans are down 7 cents, September KC wheat is up 1 3/4 cents, September Chicago wheat is down 4 cents and September Minneapolis wheat is up 1 1/4 cents. The Dow Jones Industrial Average is up 245.53 points and September crude oil is up $0.26 per barrel. The U.S. Dollar Index is up 0.550 and August gold is down $8.50 per ounce. Corn, soybeans, soymeal and Chicago wheat are correcting lower, while hard wheat futures are just modestly higher. Word is that India has banned rice exports for a certain kind of white rice. Last year, they exported 17 mmt of the same rice. This should perhaps be more bullish to wheat as a semi-substitute. Weather for the western and central U.S. still looks foreboding with high heat and dryness next week.

Posted 10:29 -- December corn is down 6 cents per bushel, November soybeans are steady, September KC wheat is up 2 1/4 cents, September Chicago wheat is up 1 cent and September Minneapolis wheat is up 2 cents. The Dow Jones Industrial Average is up 261.57 points and September crude oil is up $0.11 per barrel. The U.S. Dollar Index is up 0.520 and August gold is down $8.70 per ounce. Soybean oil is surging again, reaching the highest level since November, as world veg oil production faces some adverse weather effects. In two-sided and corrective trade, corn and beans are mixed to lower. The forecast ahead projects some high heat and limited rainfall for crops next week.

Posted 08:35 -- December corn is down 1/2 cent per bushel, November soybeans are steady, September KC wheat is up 14 1/2 cents, September Chicago wheat is up 12 1/4 cents and September Minneapolis wheat is up 14 3/4 cents. The Dow Jones Industrial Average is up 138.02 points and September crude oil is up $0.74 per barrel. The U.S. Dollar Index is up 0.170 and August gold is down $1.00 per ounce. Wheat markets are sharply higher again as more strikes hit Ukraine Black Sea ports, while corn and beans are mixed to start following two-sided early morning trade. There are still extreme temperatures and mostly a dry pattern over the next few weeks. Russia has gotten more aggressive in their war efforts following the failure to renew the Black Sea grain corridor.

Livestock

Posted 11:37 -- October live cattle are up $0.75 at $184.475, August feeder cattle are up $1.15 at $247.95, August lean hogs are up $3.30 at $101.225, December corn is down 4 3/4 cents per bushel and December soybean meal is down $1.10. The Dow Jones Industrial Average is up 272.31 points. Bids of $188 live and $291 to $294 dressed are being offered in the North, but still no cattle have traded as feedlots are holding out for more. Asking prices remain firm in the North at $295 plus and $183 plus in the South.

Posted 08:36 -- October live cattle are up $0.15 at $183.875, August feeder cattle are up $0.60 at $247.4, August lean hogs are up $1.78 at $99.7, December corn is down 1 1/4 cents per bushel and December soybean meal is up $2.10. The Dow Jones Industrial Average is up 149.87 points. Beef net sales of 20,900 mt for 2023 were up noticeable from the previous week and up 60% from the previous four-week average. The three largest buyers were South Korea (7,800 mt), Mexico (4,100 mt) and China (2,900 mt). Pork net sales of 19,200 mt for 2023 were down 22% from the previous week and 28% from the prior four-week average. The three largest buyers were China (5,300 mt), Mexico (5,000 mt) and Japan (4,100 mt).

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