DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Heading in to the close, December corn is up 11 1/4 cents per bushel, November soybeans are up 5 3/4 cents, September KC wheat is up 29 1/2 cents, September Chicago wheat is up 25 cents and September Minneapolis wheat is up 18 1/2 cents. September crude oil is down $2.83 per barrel. The U.S. Dollar Index is down 0.101. Wheat markets continue to help corn and soybeans find strength so far, but August soybean oil is down 0.69 cents, under pressure from the steep drop in the energy markets.

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Posted 10:46 -- December corn is up 9 3/4 cents per bushel, November soybeans are up 5 1/2 cents, September KC wheat is up 24 3/4 cents, September Chicago wheat is up 19 1/4 cents and September Minneapolis wheat is up 12 1/2 cents. The Dow Jones Industrial Average is up 94.72 points and September crude oil is down $2.91 per barrel. The U.S. Dollar Index is down 0.180 and December gold is up $0.70 per ounce. Wheat continues to lead the grain and soy complex higher on declining production ideas, with Russian wheat yields falling along with Canadian and U.S. spring wheat. A return to hot and mostly dry conditions is likely to occur in the Northern Plains and much of the Canadian Prairies.

Posted 08:46 -- December corn is up 4 1/2 cents per bushel, November soybeans are down 2 1/2 cents, September KC wheat is up 22 1/4 cents, September Chicago wheat is up 19 1/2 cents and September Minneapolis wheat is up 9 1/2 cents. The Dow Jones Industrial Average is up 107.20 points and September crude oil is down $0.75 per barrel. The U.S. Dollar Index is down 0.150 and December gold is down $4.30 per ounce. Wheat is sharply higher on declining world production and tightening high protein supplies, while corn is rallying from overnight weakness as the next seven days remains dry with returning heat.

Posted Sunday, Aug. 1, at 7:06 p.m. -- After Sunday evening's open, December corn is trading up 2 cents, November soybeans are up 5 1/2 cents. September KC wheat is up 5 cents and September Minneapolis wheat is down 1 cent. The main recipients of weekend rains were Iowa, Missouri and Illinois with some benefit to southeastern South Dakota and eastern Nebraska. The seven-day forecast remains mostly dry with chances for light to moderate rains around the Great Lakes. Moderate to heavy rains are expected in Alberta and Ontario this week. September Dow Jones futures are trading up 127 points and the September U.S. Dollar Index is down 0.06. December gold is trading down $0.90 and September crude oil is down 23 cents a barrel.

Livestock

Posted 11:37 -- October live cattle is steady, September feeder cattle are up $0.35 at $162.15, October lean hogs are up $1.48 at $89.5, December corn is up 10 1/2 cents per bushel and December soybean meal is up $5.60. The Dow Jones Industrial Average is up 35.68 points and NASDAQ is up 46.02 points. The livestock contracts are keeping with their snappy pace and rallying into Monday's afternoon. If pork cutout values and boxed beef prices can close higher, the market stands a chance of keeping this momentum rolling into Tuesday's trade. Showlists this week are somewhat lower in Kansas, lower, in Texas but higher in Nebraska/Colorado.

Posted 10:30 -- October live cattle are up $0.13 at $127.325, September feeder cattle are up $0.53 at $162.325, October lean hogs are up $0.85 at $88.875, December corn is up 6 3/4 cents per bushel and December soybean meal is up $1.70. The Dow Jones Industrial Average is up 110.96 points and NASDAQ is up 94.08 points. Largely, the livestock contracts are all rallying into Monday's trade as the market sets out feeling encouraged by strong consumer demand. Boxed beef prices are expected to trade higher again this week, but the pork cutout values will be more difficult to call. With market-ready supplies becoming more available, pork cutout values could continue to chop sideways as demand pulls prices ahead, but ample supplies keep prices in check.

Posted 08:35 -- October live cattle are up $0.30 at $127.5, September feeder cattle are up $0.50 at $162.3, October lean hogs are up $0.58 at $88.6, December corn is up 4 cents per bushel and December soybean meal is up $1.50. The Dow Jones Industrial Average is up 102.01 points and NASDAQ is up 79.80 points. The livestock contracts are hoping to regain ground early this week. Last week's cash cattle market was utterly disappointing as the market was mostly steady and on very few head, so monitoring boxed beef prices this week remains incredibly important because it could help feedlots summon slightly higher prices.

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