DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

Illustration by Nick Scalise

Grains

OMAHA (DTN) -- July corn is up 4 3/4 cents per bushel, August soybeans are down 14 1/2 cents, July KC wheat is up 6 1/2 cents, July Chicago wheat is up 2 3/4 cents and July Minneapolis wheat is up 5 1/2 cents. The Dow Jones Industrial Average is up 42.96 points and June crude oil is down $0.06 per barrel. The U.S. dollar index is up 0.120 and June gold is down $9.80 per ounce. Soybeans are on their own bearish island even while corn and wheat continue to move higher. While the lack of U.S.-China trade progress is weighing on soy, a few positives in trade Friday were Japan's acceptance of U.S. beef without age restrictions and the agreement to eliminate metal tariffs on Canada and Mexico.

Posted 10:35 -- July corn is up 3 3/4 cents per bushel, August soybeans are down 10 cents, July KC wheat is up 6 3/4 cents, July Chicago wheat is up 4 cents and July Minneapolis wheat is up 5 1/4 cents. The Dow Jones Industrial Average is up 56.99 points and June crude oil is up $0.32 per barrel. The U.S. dollar index is up 0.150 and June gold is down $10.40 per ounce. Corn and wheat are reflecting concern over the wet forecast for the coming 10 days and the possibility of huge rain totals in Kansas, Missouri and into Illinois, bringing recent planting progress to a halt. Soybeans are not buying into the bullish hype, instead focusing on the lack of China trade talk progress and overall slack demand.

Posted 08:36 -- July corn is up 3 1/2 cents per bushel, August soybeans are down 11 1/2 cents, July KC wheat is up 4 1/4 cents, July Chicago wheat is up 3 3/4 cents and July Minneapolis wheat is up 6 3/4 cents. The Dow Jones Industrial Average is down 168.39 points and June crude oil is up $0.39 per barrel. The U.S. dollar index is up 0.040 and June gold is down $4.70 per ounce. While corn and wheat continue their move higher, soybeans have collapsed early on Friday. A breakdown in U.S.-China trade talks along with fears that China could cancel unshipped soybeans are weighing on beans.

Livestock

Posted 11:17 -- June live cattle are up $0.28 at $110.75, May feeder cattle are down $0.25 at $133.975, June lean hogs are down $2.05 at $90.175, July corn is up 3 3/4 cents per bushel and July soybean meal is down $5.40. The Dow Jones Industrial Average is up 0.54 points and Nasdaq is down 38.80 points. Expanded losses are developing in lean hog trade due to limited volume seen through the last two hours of trade. Firm buyer support continues to develop in cattle trade, holding prices higher going into the weekend.

Posted 10:26 -- June live cattle are up $0.90 at $111.375, May feeder cattle are up $0.30 at $134.525, June lean hogs are down $0.30 at $91.925, July corn is up 3 3/4 cents per bushel and July soybean meal is down $3.90. The Dow Jones Industrial Average is up 41.49 points and Nasdaq is up 7.82 points. Limited direction is seen in lean hog futures midmorning with prices hovering in a narrowly mixed market range. Active support continues to develop in live cattle and feeder cattle trade with the feeder cattle market holding gains of $2 to $2.50 per cwt Friday morning. Limited volume is expected through the rest of the day, limiting additional moves through the complex.

Posted 09:01 -- June live cattle are up $0.80 at $111.275, May feeder cattle are up $0.05 at $134.275, June lean hogs are up $0.03 at $92.25, July corn is up 4 cents per bushel and July soybean meal is down $5.10. The Dow Jones Industrial Average is down 160.35 points and Nasdaq is down 60.12 points. Firm underlying support is moving back into the complex as end of the week buying is moving back into live cattle and feeder cattle trade. Lean hog futures are mixed in a narrow range due to limited volume.

(BE)