DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

Illustration by Nick Scalise

Grains

Posted 10:36 -- July corn is up 4 cents per bushel, August soybeans are down 4 cents, July KC wheat is up 3 3/4 cents, July Chicago wheat is up 9 3/4 cents and July Minneapolis wheat is up 3 cents. The Dow Jones Industrial Average is down 342.85 points and July crude oil is down $3.23 per barrel. The U.S. dollar index is down 0.130 and June gold is up $11.30 per ounce. While the soy market continues to struggle, corn and wheat have firmed up, with July corn again approaching weekly resistance at $4.00. There is reportedly a meeting at the White House later between President Trump and major farm groups with details of a new farm aid package possibly forthcoming.

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Posted 08:35 -- July corn is up 3/4 cent per bushel, August soybeans are down 10 1/2 cents, July KC wheat is up 1/4 cent, July Chicago wheat is up 3 cents and July Minneapolis wheat is up 2 1/4 cents. The Dow Jones Industrial Average is down 235.14 points and July crude oil is down $1.99 per barrel. The U.S. dollar index is up 0.240 and June gold is up $5.30 per ounce. Soybeans are plunging, while wheat and corn are still higher, although the recent rally in both markets appears to be slowing.

Livestock

OMAHA (DTN) -- August live cattle are down $0.03 at $107.925, May feeder cattle are down $0.13 at $135.325, June lean hogs are down $0.43 at $89.225, July corn is up 3 3/4 cents per bushel and July soybean meal is down $1.60. The Dow Jones Industrial Average is down 327.38 points and Nasdaq is down 100.35 points. Support in cattle futures has eased as traders digested increased export sales and recent reductions in beef stocks. Hog futures are mixed following initial losses.

Posted 09:23 -- August live cattle are up $0.75 at $108.7, May feeder cattle are up $0.28 at $135.725, June lean hogs are down $0.55 at $89.1, July corn is up 3 1/2 cents per bushel and July soybean meal is down $0.30. The Dow Jones Industrial Average is down 372.36 points and Nasdaq is down 124.53 points. Firm support developing in cattle trade is focusing on a pullback in beef stocks in April as well as increased beef exports in the latest weekly report. This is easing previous concerns of growing supplies that are expected to be reported Friday in the cattle on feed report. Lean hog trade has tumbled lower despite active Chinese pork purchases, although morning prices are well off initial lows.

(BE)

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