DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

Illustration by Nick Scalise

Grains

Posted 10:34 -- July corn is up 8 cents per bushel, August soybeans are up 5 cents, July KC wheat is down 3/4 cent, July Chicago wheat is up 1 1/2 cents and July Minneapolis wheat is down 1 cent. The Dow Jones Industrial Average is up 46.34 points and July crude oil is up $1.63 per barrel. The U.S. dollar index is up 0.090 and August gold is up $6.20 per ounce. Wheat has now retreated and is mixed to lower, and corn and beans are 5 cents under the daily highs. While rains of 1 to 2 inches are projected to fall over the weekend with impact in both Indiana and Ohio. Expectations are that by Sunday corn may be 89-91% planted, with beans over 80%.

Posted 08:36 -- July corn is up 10 1/4 cents per bushel, August soybeans are up 8 cents, July KC wheat is up 6 1/4 cents, July Chicago wheat is up 5 1/2 cents and July Minneapolis wheat is up 5 1/4 cents. The Dow Jones Industrial Average is up 89.37 points and July crude oil is up $1.89 per barrel. The U.S. dollar index is up 0.070 and August gold is up $2.00 per ounce. Corn has now surged into new contract highs and the breakout from a bull flag pattern on a solid close projected much higher values ahead. Planting pace by Sunday is estimated to be near 90% on corn and over 80% on beans, but prevented planting acres on corn are expected to be record high.

Livestock

OMAHA (DTN) -- June live cattle are down $0.38 at $109.275, August feeder cattle are down $1.33 at $136.475, June lean hogs are up $0.18 at $79.2, July corn is up 9 1/2 cents per bushel and July soybean meal is up $2.80. The Dow Jones Industrial Average is up 111.64 points and NASDAQ is up 45.83 points. Strong underlying support has developed in lean hog trade at midday as triple-digit gains in deferred contracts lead the complex higher. Cattle futures remain weak, but have pulled away from initial losses.

Posted 10:50 -- June live cattle are down $0.38 at $109.275, August feeder cattle are down $0.95 at $136.85, June lean hogs are up $0.33 at $79.35, July corn is up 8 cents per bushel and July soybean meal is up $1.60. The Dow Jones Industrial Average is up 58.35 points and NASDAQ is up 35.49 points. Light to moderate buying has moved into lean hog trade following initial pressure. Continued losses in cattle trade are following the rally in corn markets as traders try to assess long-term feed costs due to expected lower production. Cattle futures have backed away from session lows.

Posted 09:15 -- June live cattle are down $0.88 at $108.775, August feeder cattle are down $2.43 at $135.375, June lean hogs are up $0.10 at $79.125, July corn is up 10 1/4 cents per bushel and July soybean meal is up $2.60. The Dow Jones Industrial Average is up 33.43 points and NASDAQ is up 28.98 points. Livestock futures are slowly backing away from initial losses, but the complex remains under significant pressure. Sharp gains in nearby corn trade has sparked increased liquidation in cattle futures Thursday, with concerns about production costs and feed supplies creating active pressure. Hog futures are showing renewed support, with prices mixed as increased volume develops Thursday morning.

(BE)