DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

Illustration by Nick Scalise

Grains

Posted 10:35 -- July corn is up 5 1/4 cents per bushel, August soybeans are up 21 1/2 cents, July KC wheat is up 5 cents, July Chicago wheat is up 7 1/4 cents and July Minneapolis wheat is down 2 cents.
The Dow Jones Industrial Average is down 32.44 points and July crude oil is down $1.55 per barrel. The U.S. dollar index is up 0.040 and August gold is up $7.80 per ounce. Despite a USDA report that contained little that was bullish for soybeans, it is soy that is leading the way higher this morning. A much wetter forecast through the end of June, and indications that soy acreage and yield changes will be forthcoming in July has rallied beans. December corn, on a solid close above $4.50 is threatening to break out of a bull flag chart pattern but there is a long way until the close.

Posted 08:35 -- July corn is up 2 3/4 cents per bushel, August soybeans are up 6 3/4 cents, July KC wheat is up 3 cents, July Chicago wheat is up 3 cents and July Minneapolis wheat is up 3/4 cent. The Dow Jones Industrial Average is up 18.20 points and July crude oil is down $1.03 per barrel. The U.S. dollar index is up 0.090 and August gold is up $3.10 per ounce. Grain and soybean markets are surging to higher highs after Tuesday's surprisingly bullish corn numbers. The 6- to 15-day weather forecast is wetter than previously indicated, likely leading to more planting challenges.

Livestock

OMAHA (DTN) -- June live cattle are down $1.48 at $109.2, August feeder cattle are down $2.83 at $135.3, June lean hogs are down $0.13 at $78.95, July corn is up 4 1/4 cents per bushel and July soybean meal is up $6.40. The Dow Jones Industrial Average is down 20.36 points and the NASDAQ is down 24.56 points. Aggressive pressure continues in all livestock trade with feeder cattle futures leading the complex lower with $2 to $2.90 per cwt losses. Even though prices have pulled away from session lows, the bearish tone associated with demand uncertainty and increasing production costs is causing liquidation through the entire complex.

Posted 10:19 -- June live cattle are down $0.45 at $110.225, August feeder cattle are down $1.20 at $136.925, June lean hogs are down $0.03 at $79.05, July corn is up 5 3/4 cents per bushel and July soybean meal is up $7.50. The Dow Jones Industrial Average is down 39.00 points and the NASDAQ is down 29.76 points. Pressure continues in all livestock trade with most feeder cattle and lean hog futures contracts holding triple-digit losses. Continued weakness in feeder cattle futures has spilled over to live cattle futures with end-of-year trade down $1 per cwt at midmorning. Additional losses may be seen later in the day.

Posted 09:14 -- June live cattle are up $0.05 at $110.725, August feeder cattle are down $0.55 at $137.575, June lean hogs are up $0.18 at $79.25, July corn is up 3 cents per bushel and July soybean meal is up $4.90. The Dow Jones Industrial Average is up 0.31 points and the NASDAQ is down 14.52 points. Mixed trade continues early Wednesday morning with nearby lean hog futures posting moderate support despite strong pressure in deferred trade. Cattle markets have backed away from initial gains as renewed buying across the grain complex is creating concerns about higher feed prices in the long term.

(BE)