DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is up 1/2 cent per bushel, November soybeans are down 3 1/2 cents, December KC wheat is up 3 cents, December Chicago wheat is up 4 3/4 cents and September Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average is up 100.28 points and October crude oil is up $0.03 per barrel. The U.S. dollar index is down 0.060 and December gold is down $6.90 per ounce. Soybeans and corn have fallen from early highs, and hard wheat markets are higher, as European values climbed higher on Thursday after two straight down days. Wheat is the one commodity with any positive export vibes, with sales commitments now up 22% on the year. Corn and soybean old- and new-crop sales continue to suffer, with the latter down sharply versus last year on China trade issues and, in the case of corn, much-cheaper South American offers.

Popsted 10:33 -- December corn is steady, November soybeans are up 1/4 cent, December KC wheat is up 2 cents, December Chicago wheat is up 2 cents and September Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average is down 39.40 points and October crude oil is down $0.42 per barrel. The U.S. dollar index is down 0.060 and December gold is down $5.50 per ounce. Early morning strength was short-lived as both corn and beans have set back from the highs. There is very little new information to drive markets on Thursday. Corn is very oversold, and likely to continue to trade sideways above the contract low made back in mid-May.

Posted 08:34 -- December corn is up 1 1/4 cents per bushel, November soybeans are up 6 1/4 cents, December KC wheat is up 3 1/2 cents, December Chicago wheat is up 1 cent and September Minneapolis wheat is up 3/4 cent. The Dow Jones Industrial Average is up 84.16 points and October crude oil is up $0.46 per barrel. The U.S. dollar index is down 0.070 and December gold is down $6.70 per ounce. Corn, bean and wheat markets are firming up from oversold conditions in early trade. China continues to talk tough on trade, but indications are that dialogue has continued and that negotiators may again meet in September. Concern in the grain markets seem to be focusing more on soybeans, and their delayed maturity than on corn, where recent rains have been beneficial.

Livestock

Posted 12:13 -- October live cattle are up $0.58 at $100.8, August feeder cattle are up $0.83 at $138.2, October lean hogs are down $0.78 at $62.525, September corn is up 1 1/2 cents per bushel and September soybean meal is down $0.70. The Dow Jones Industrial Average is up 57.26 points and NASDAQ is down 33.06 points. Support is moving back into live and feeder cattle futures. This has sparked limited buying interest through the entire complex. Hog futures continue to erode on additional underlying fundamental pressure as cash hog and pork values have fallen further in morning reports.

Posted 10:40 -- October live cattle are up $1.00 at $101.225, August feeder cattle are up $0.95 at $138.325, October lean hogs are down $0.40 at $62.9, September corn is down 1/2 cent per bushel and September soybean meal is steady. The Dow Jones Industrial Average is down 25.21 points and NASDAQ is down 55.99 points. Cattle trade Thursday morning has renewed support with underlying support being solidified by overall volume developing late morning. Hog futures remain under pressure but have quickly bounced off session lows as renewed support is reentering the complex.

Posted 08:36 -- October live cattle are up $0.55 at $100.775, August feeder cattle are up $0.35 at $137.725, October lean hogs are down $0.63 at $62.675, September corn is up 1 1/2 cents per bushel and September soybean meal is up $2.30. The Dow Jones Industrial Average is up 65.02 points and NASDAQ is down 19.81 points. Firm underlying pressure is quickly developing in the lean hog futures complex. This may spark additional concerns that previous market lows may not be able to hold, and sparking renewed liquidation into most nearby contracts. Live cattle trade has continued to shift higher with increased underlying support developing in all contracts, although initial morning volume is still sluggish.

(CZ)

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