DTN's Quick Takes

Todd Hultman
DTN Analyst
and
Rick Kment
DTN Analyst

Grains

Posted 08:37 -- After the 8:30 open, December corn is down 1/4 cent, November soybeans are up 1 3/4 cents, September K.C. wheat is up 3/4 cent, and September Minneapolis wheat is up 17 1/2 cents. Even though the Dakotas received light to moderate showers early Wednesday, September Minneapolis wheat is pushing higher again as the forecast remains mostly dry for the northwestern Plains for at least the next ten days. Rains are working their way across the central Midwest and Minnesota with more expected the next seven days. Corn and soybeans may be in for a quiet day of trading ahead of Friday's USDA reports.

Livestock

OMAHA (DTN) -- Lean hog futures are mixed in light trade. Nearby contracts are holding moderate gains, pushing July through October contracts higher, helping to draw on fundamental support and focusing on underlying short-term activity. Deferred contracts remain lightly traded, although light pressure has continued to hold even though the market remains limited by lack of overall interest. Cattle markets remain under pressure as triple-digit losses in feeder cattle futures quickly developed early Wednesday. This early softness has eased slightly, but the tone remains weak in both live cattle and feeder cattle markets.

(KA)

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