DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 1/4 cent per bushel, November soybeans are up 1 cent, September KC wheat is down 7 1/2 cents, September Chicago wheat is down 6 3/4 cents and September Minneapolis wheat is down 5 cents. The Dow Jones Industrial Average is up 36.10 points and September crude oil is down $0.22 per barrel. The U.S. Dollar Index is down 0.120 and December gold is up $21.00 per ounce. Wheat has recovered a bit from morning lows, while corn and beans trade close to unchanged. Mostly favorable U.S. weather, aside from growing dryness in parts of Iowa, along with rising crop production potential in other major exporting countries are weighing heavily on prices. Funds have exited much of their soybean long in the past few days.

Posted 10:36 -- December corn is down 1/4 cent per bushel, November soybeans are down 1 1/4 cents, September KC wheat is down 10 1/4 cents, September Chicago wheat is down 7 1/2 cents and September Minneapolis wheat is down 5 1/2 cents. The Dow Jones Industrial Average is up 14.32 points and September crude oil is down $0.04 per barrel. The U.S. Dollar Index is up 0.070 and December gold is up $15.00 per ounce. Wheat futures continue to plunge, with both Kansas City and Minneapolis scoring new contract lows. Rising production ideas from major exporters Canada, Russia and Australia, and some impressive U.S. early spring wheat yields, are weighing on values.

Posted 08:36 -- December corn is up 1/2 cent per bushel, November soybeans are up 2 3/4 cents, September KC wheat is down 1 3/4 cents, September Chicago wheat is up 2 3/4 cents and September Minneapolis wheat is up 1/2 cent. The Dow Jones Industrial Average is down 45.50 points and September crude oil is up $0.41 per barrel. The U.S. Dollar Index is up 0.020 and December gold is up $23.50 per ounce. USDA reported early Thursday that China has returned to buy 126,000 mt (4.6 million bushels) of new crop soybeans. Corn and soybeans are quietly trading mixed to higher in quiet trade. Gold continues to move higher, establishing another new high at $2,071 an ounce.

Livestock

Posted 11:34 -- October live cattle are down $0.33 at $107.125, September feeder cattle are down $0.18 at $146.3, October lean hogs are down $0.03 at $49.275, December corn is steady and December soybean meal is down $1.10. The Dow Jones Industrial Average is up 18.15 points and NASDAQ is up 18.99 points. Heading into Thursday afternoon, livestock contracts are losing strength and have turned to mostly lower trade. Cash cattle trade is getting a little more attention as packers and feeders seem to be finding some middle ground in Iowa, on a small test.

Posted 10:35 -- October live cattle are down $0.20 at $107.25, September feeder cattle are up $0.03 at $146.5, October lean hogs are down $0.18 at $49.125, December corn is steady and December soybean meal is down $1.60. The Dow Jones Industrial Average is up 21.44 points and NASDAQ is down 7.69 points. Livestock contracts are fully higher but as Thursday morning gets closer to the noon hour, some light opposition is felt. Packers are still mostly quiet though bids of $162 have been offered in Nebraska and Iowa.

Posted 08:36 -- October live cattle are up $0.58 at $108.025, September feeder cattle are up $0.73 at $147.2, October lean hogs are down $0.03 at $49.275, December corn is steady and December soybean meal is down $0.60. The Dow Jones Industrial Average is down 6.08 points and NASDAQ is up 1.32 points. Thursday's export report shared that beef net sales of 13,400 mt were reported for 2020, which was down 55% from the previous week and 35% from the prior four-week average. The three primary increases were from Japan (4,600 mt, including decreases of 600 mt), South Korea (3,200 mt, including decreases of 400 mt) and Canada (1,200 mt, including decreases of 100 mt). Pork net sales of 30,300 mt were reported for 2020, which was down 23% from the previous week and 14% from the prior four-week average. The three primary increases were from Mexico (12,900 mt, including decreases of 200 mt), China (5,600 mt, including decreases of 3,000 mt), Canada (2,700 mt, including decreases of 400 mt).

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