DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

Illustration by Nick Scalise

Grains

Posted 08:37 -- After the 8:30 open, July corn is up 1 cent, July soybeans are up 7 1/2 cents and July K.C. wheat is up 7 1/4 cents. In spite of Thursday's broad sell-off, buyers continue to show interest in grains and new-crop soybeans are starting to get more attention. Early Friday, USDA said 11.5 million bushels (312,000 mt) of U.S. soybeans were sold to China for 2018-19. China also bought another 6.1 million bushels (165,000 mt) of new-crop soybeans on an optional origin contract.

Livestock

OMAHA (DTN) -- Moderate spill over buying activity is seen across lean hog markets early Friday morning. Despite spot month lean hog futures shifting lower with 30-cent losses, the rest of the complex is holding firm gains from 30 to 70-cent support. Trade volume remains extremely light in cattle trade with early pressure slowly fading during the first hour of trade. This is keeping prices steady to 35 cents per cwt lower in nearby live cattle trade, while feeder cattle futures are mixed in a narrow range.

(BE)

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