DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- As we near the end of the day, week and month, July corn is up 1 1/4 cents per bushel, July soybeans are up 1 cent, July KC wheat is down 33 cents, July Chicago wheat is down 24 1/4 cents and July Minneapolis wheat is down 20 1/4 cents. The Dow Jones Industrial Average is down 573.7 points and June crude oil is down $0.36 per barrel. The U.S. Dollar Index is down 0.684 and June gold is up $19.10 per ounce. Ahead of the weekend, gains in soybeans have been pared, crude oil gains have disappeared, while late selling has added to the weakness in soybean oil , the U.S. dollar and the Dow Jones.

Posted 10:41 -- At midmorning Friday, row crops are higher, while wheats are lower. July corn is up 6 1/4 cents. July soybeans are up 9 1/4 cents, but July soybean oil is down 1.63 cents, falling back from Thursday's new all-time high ahead of the weekend. July KC wheat is down 26 cents, pressured by increased chances for rain in the western U.S. Plains the next seven days -- rains that are already starting in the Dakotas and Nebraska Friday. June crude oil is up $1.10, trading near $106 after Germany dropped its opposition to banning Russian oil Thursday. Dow Jones futures are down 324 points, weighed down by a disappointing report from Amazon. The U.S. Dollar Index is down 0.38 and June gold is up $15.70.

Posted 09:16 -- In early Friday trade, July corn is up 4 1/2 cents per bushel, July soybeans are up 17 1/2 cents, July KC wheat is down 24 1/4 cents, July Chicago wheat is down 21 1/2 cents and July Minneapolis wheat is down 15 1/2 cents. The Dow Jones Industrial Average is down 97.53 points and June crude oil is up $1.90 per barrel. The U.S. Dollar Index is down 0.388 and June gold is up $19 per ounce. July soybean oil is trading lower after reaching a fresh contract high overnight, paring soybean gains, while two systems are forecast to bring precipitation to the southwestern Plains next week, leading to profit taking across the three wheat markets.

Posted 08:34 -- July corn is up 3 1/2 cents per bushel, July soybeans are up 12 3/4 cents, July KC wheat is down 14 1/2 cents, July Chicago wheat is down 5 1/2 cents and July Minneapolis wheat is down 8 1/4 cents. The Dow Jones Industrial Average is down 152.74 points and June crude oil is up $1.39 per barrel. The U.S. Dollar Index is down 0.370 and June gold is up $19.90 per ounce. Wheat continues to leak lower on better rain chances for parched hard red winter areas, while beans, meal and corn are showing strength. Spreads on beans and corn are strong with no deliveries tendered against expiring May futures.

Livestock

Posted 11:36 -- June live cattle are down $1.18 at $132.725, August feeder cattle are down $2.70 at $167.7, June lean hogs are down $4.10 at $106.875, July corn is up 6 1/2 cents per bushel and July soybean meal is up $3.40. The Dow Jones Industrial Average is down 482.65 points. It's been a grim day for the livestock complex as contracts sit without any support surfacing and the burden of higher input costs becomes heavier and heavier. With the corn market posting a 5- to 7-cent increase, it's unlikely the livestock contracts stabilize ahead of the weekend.

Posted 08:34 -- June live cattle are up $0.13 at $134.025, August feeder cattle are up $0.23 at $170.625, June lean hogs are down $0.80 at $110.175, July corn is up 1 3/4 cents per bushel and July soybean meal is up $5.60. The Dow Jones Industrial Average is down 111.82 points. The live cattle contracts are rounded out Thursday's trade on a lower note as traders wouldn't pay the complex any interest. If corn prices stay steady or trend somewhat lower, the feeder cattle and live cattle contracts stand a chance at trading mildly higher Friday.

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