DTN's Quick Takes

By DTN Analysts

Grains

Posted 08:35 -- July corn is down 2 1/4 cents per bushel, July soybeans are down 2 3/4 cents, September KC wheat is down 1 3/4 cents, September Chicago wheat is down 4 cents and September Minneapolis wheat is down 5 1/4 cents. The Dow Jones Industrial Average is up 229.12 points and August crude oil is up $0.37 per barrel. The U.S. Dollar Index is down 0.440 and August gold is up $13.10 per ounce. Finally a new sale of U.S. soybeans announced to China -- 132,000 mt (4.9 million bushels) for 2020-21 -- the first such sale in the past five days. However, grain and soybeans continue to leak lower as weather looks to be very beneficial for crops in the next two weeks as corn pollination begins. The seasonal price pattern for corn does not bode well in the absence of a weather threat. .

Livestock

OMAHA (DTN) -- August live cattle are down $0.20 at $94.925, August feeder cattle are down $0.43 at $131.325, August lean hogs are steady, July corn is down 3 1/2 cents per bushel and July soybean meal is steady. The Dow Jones Industrial Average is up 248.00 points and NASDAQ is up 76.09 points. Tuesday morning is quiet thus far throughout the cattle industry as contracts are trending lower and cash cattle trade is still idle. The lean hog contracts have fluttered trying to trade modestly higher but the pressure in nearby contracts is holding the movement back.

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