DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- December corn is down 16 1/4 cents per bushel, November soybeans are down 70 1/2 cents, September KC wheat is down 15 cents, September Chicago wheat is down 14 1/4 cents and September Minneapolis wheat is down 15 1/4 cents. The Dow Jones Industrial Average is down 95.15 points and September crude oil is down $4.71 per barrel. The U.S. Dollar Index is down 0.470 and December gold is up $5.50 per ounce. The soy complex is feeling the brunt of fund selling with an estimate that, as of noon, funds had sold close to 8,000 corn; 13,000 beans; and 6,000 each of meal and oil contracts. The worsening economic numbers from China, the weak crude oil market, and news that Nancy Pelosi will make a stop in Taiwan on Tuesday has sellers out in force, fearing rising political conflict with China as a result.
Posted 10:34 -- December corn is down 21 1/4 cents per bushel, November soybeans are down 72 cents, September KC wheat is down 27 3/4 cents, September Chicago wheat is down 24 3/4 cents and September Minneapolis wheat is down 24 cents. The Dow Jones Industrial Average is up 67.30 points and September crude oil is down $5.25 per barrel. The U.S. Dollar Index is down 0.620 and December gold is up $3.00 per ounce. Soybeans, meal and bean oil are all falling under heavy selling pressure, likely fueled by more recession talk, and the $5 plunge in crude oil futures to begin the month of August. Also, there are better rain chances upcoming for the Eastern Corn Belt in the coming week. Wheat and corn are also down hard to start the new week.
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Posted 08:34 -- December corn is down 20 3/4 cents per bushel, November soybeans are down 44 3/4 cents, September KC wheat is down 19 1/4 cents, September Chicago wheat is down 19 cents and September Minneapolis wheat is down 20 cents. The Dow Jones Industrial Average is down 119.85 points and September crude oil is down $5.58 per barrel. The U.S. Dollar Index is down 0.410 and December gold is up $4.10 per ounce. It looks like the recession fears are back with crude oil down nearly $5 per barrel and the China economy slowing. Grain and soy markets are a sea of red on the first day of August, led lower by soybeans and bean oil. The weakness comes despite an August forecast from the Climate Prediction Center that appears to be detrimental to soybeans.
Posted Sunday, July 31, at 7:04 p.m. - After Sunday evening's open, December corn is up 1/2 cent and November soybeans are up 3 cents. Temperatures are hot in the Pacific Northwest to Montana and will heat up again in the western and central Corn Belt early this week. Sunday's forecast for August from the Climate Prediction Center expects above-normal temperatures and below-normal precipitation for the month of August. September KC wheat is up 4 3/4 cents and September Minneapolis wheat is up 3/4 cent. Ukraine continues to wait for the all-clear signal from the U.N., but several sources say ships of grain may leave ports this week. On Sunday, Russia attacked the port of Mykolaiv, killing the owner of one of Ukraine's leading grain export companies. September crude oil is down $0.76 and Dow Jones futures are down 140 points. The U.S. Dollar Index is up 0.07 and August gold is down $3.20.
LivestockPosted 11:37 -- October live cattle is steady, September feeder cattle are up $1.55 at $183.1, October lean hogs are down $0.98 at $96.25, December corn is down 18 3/4 cents per bushel and December soybean meal is down $19.20. The Dow Jones Industrial Average is up 48.38 points. As the corn complex continues to trade lower, both the live cattle and feeder cattle contracts are enjoying the reduced pressure and are taking this opportunity to trade higher. Meanwhile, the lean hog complex is trending lower as the market waits to see how demand is going to pan out this week.
Posted 08:39 -- October live cattle are up $0.33 at $142.55, September feeder cattle are up $1.45 at $183., October lean hogs are down $1.33 at $95.9, December corn is down 19 1/4 cents per bushel and December soybean meal is down $14.20. The Dow Jones Industrial Average is down 185.17 points. Both the live cattle and feeder cattle contracts are running higher into Monday's start as the complex warmly welcomes lower corn prices. The corn market seems to be regressing as the first vessel of corn has successfully left the port of Odesa and is headed for Lebanon, and the fact that the rain is present in this week's weather forecast.
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Stay tuned as DTN's Digital Crop Tour, powered by Gro Intelligence will return on Aug. 8-12, offering better yield estimates and analysis ahead of USDA's Aug. 12 WASDE report. (https://www.dtnpf.com/…)
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