DTN's Quick Takes

By DTN Analysts

Grains

Posted 10:40 -- At midmorning Monday, there is little doubt which grain is leading the sector higher. July KC wheat is up 60 1/2 cents, July Chicago wheat is up 64 1/2 cents and September Minneapolis wheat is up 47 cents. July corn is up 16 1/4 cents and July soybeans are down 1/2 cent. USDA's weekly inspections showed 56.5 million bushels (mb) for corn, 12.9 mb for soybeans and 13.0 mb for wheat -- adding to concerns that U.S. soybean shipments may not reach USDA's export goal even though sales have already surpassed it. July crude oil gave back earlier gains and is trading down $0.53. Dow Jones futures are up 103 points and the U.S. Dollar Index is up 0.25.

Posted 08:36 -- After Monday's 8:30 a.m. CDT open, grains are higher, led by wheat. July corn is up 10 3/4 cents and July soybeans are up 12 1/2 cents. July KC wheat is up 46 cents and September Minneapolis wheat is up 31 1/2 cents. Increased attacks by Russia over the weekend are making any talk of a safe corridor look even more implausible on Monday. July crude oil is up $0.94 with reports over the weekend Saudi Arabia raised its oil price. Dow Jones futures are up 195 points, partly supported by news of easing COVID-19 restrictions in China. The U.S. Dollar Index is down 0.02 and August gold is up $5.20.

Posted Sunday, June 5, at 7:05 p.m. CDT -- After the Sunday evening open, July corn is up 8 cents and July soybeans are up 11 1/4 cents. July KC wheat is up 27 1/4 cents. According to Reuters, Russia attacked Kyiv again, this time with long-range missiles. Scattered showers are falling across the Northern Plains, but amounts are expected to remain light for North Dakota, while the rest of the Corn Belt gets broad coverage. Southern Brazil will continue to have chances for rain early this week but will then turn drier and have a chance for frost by the weekend. July crude oil is up $1.34 and Dow Jones futures are down 2 points. The U.S. Dollar Index is down 0.04 and August gold is up $5.00.

Livestock

OMAHA (DTN) -- August live cattle are down $0.40 at $133.45, August feeder cattle are down $1.28 at $172.6, July lean hogs are down $1.95 at $108.8, July corn is up 14 1/4 cents per bushel and July soybean meal is down $0.40. The Dow Jones Industrial Average is up 32.71 points. Thus far, Monday has been a struggle for the livestock contracts as technically the markets aren't seeing much interest and largely it's too early to see what fundamental support the market will either have or not have. New showlists appear to be mixed, higher in Kansas and Nebraska/Colorado, but somewhat lower in Texas.

Posted 08:33 -- August live cattle are up $0.23 at $134.075, August feeder cattle are down $0.60 at $173.275, July lean hogs are down $1.83 at $108.925, July corn is up 9 3/4 cents per bushel and July soybean meal is up $3.20. The Dow Jones Industrial Average is up 208.99 points. Heading into the new week, cattlemen are wondering if the live cattle and feeder cattle market's upward trajectory will be supported again this week. The lean hog contracts are off to a tough start as the contracts dip $1.50 to $2.20 lower.

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