DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is down 17 1/4 cents per bushel, July soybeans are down 36 1/2 cents, July KC wheat is down 1 3/4 cents, July Chicago wheat is down 2 1/4 cents and September Minneapolis wheat is down 6 3/4 cents. The Dow Jones Industrial Average is down 57.58 points and July crude oil is up $0.81 per barrel. The U.S. Dollar Index is up 0.500 and August gold is down $19.20 per ounce. Heavy liquidation continues in grain and soy markets as storms are moving into parts of Minnesota and Iowa; there has been some relief in the past few days in the Northern Plains.

Posted 10:34 -- July corn is down 14 1/2 cents per bushel, July soybeans are down 31 1/4 cents, July KC wheat is down 1 cent, July Chicago wheat is down 1/2 cent and September Minneapolis wheat is down 9 3/4 cents. The Dow Jones Industrial Average is down 38.10 points and July crude oil is up $0.50 per barrel. The U.S. Dollar Index is up 0.490 and August gold is down $17.40 per ounce. Although the grain and soy markets are still down hard, they are attempting to rally, with KC and Chicago wheat now near unchanged. Storms moving across the Northern Plains are expected to dissipate with hot and dry weather again to take hold next week.

Posted 08:34 -- July corn is down 9 cents per bushel, July soybeans are down 13 1/2 cents, July KC wheat is down 10 1/4 cents, July Chicago wheat is down 7 3/4 cents and September Minneapolis wheat is down 18 1/4 cents. The Dow Jones Industrial Average is up 88.32 points and July crude oil is up $0.25 per barrel. The U.S. Dollar Index is up 0.270 and August gold is down $10.60 per ounce. Grain and soy markets are getting pummeled early as storms are rolling across Nebraska and the Dakotas early on Friday. Soybeans and wheat are lower on weak veg oil markets and a slightly bearish WASDE report from Thursday. Once rains stop, a return to hot and mostly dry is in the cards with a ridge in the West.

Livestock

Posted 11:36 -- August live cattle are up $1.85 at $120.4, August feeder cattle are up $2.65 at $151.05, July lean hogs are down $1.53 at $119.8, July corn is down 19 1/2 cents per bushel and July soybean meal is down $2.90. The Dow Jones Industrial Average is down 120.27 points and NASDAQ is up 3.01 points. The corn market's lower regression and the feeder cattle market's confidence has led the feeder cattle contracts to higher prices and motivated the live cattle contracts too. The fundamental factors of the live cattle market are perplexing heading into the afternoon, as the morning's load count only totaled 33 loads and the day's slaughter is projected to be a measly 117,000 head.

Posted 10:34 -- August live cattle are up $1.90 at $120.45, August feeder cattle are up $1.43 at $149.825, July lean hogs are down $1.20 at $120.125, July corn is down 14 3/4 cents per bushel and July soybean meal is down $2.90. The Dow Jones Industrial Average is down 43.92 points and NASDAQ is up 17.59 points. Despite being lackadaisical in their nature over the last week, the cattle contracts are adding to their positions through Friday's trade in a snappy manner. Unfortunately, the technical push won't offer any real support to the cash cattle market as its business is essential done for the week. Meanwhile, the lean hog contracts are petering out and trading mostly lower as traders want to see what next week holds before rallying the complex any higher.

Posted 08:33 -- August live cattle are up $0.08 at $118.625, August feeder cattle are up $0.85 at $149.25, July lean hogs are down $0.10 at $121.225, July corn is down 8 1/4 cents per bushel and July soybean meal is up $0.10. The Dow Jones Industrial Average is up 82.22 points and NASDAQ is up 4.65 points. Heading into the last trading day of the week, the livestock complex will most likely have another day of dismal trade, especially in the cattle contracts. The market could see some more cash cattle trade develop but it will only be clean-up, as packers haven't been aggressive since Tuesday.

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