DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- December corn is up 4 cents per bushel, November soybeans are down 6 1/4 cents, September KC wheat is down 12 1/4 cents, September Chicago wheat is down 5 3/4 cents and September Minneapolis wheat is down 8 cents. The Dow Jones Industrial Average is up 47.23 points and September crude oil is up $0.39 per barrel. The U.S. Dollar Index is up 0.850 and December gold is down $15.20 per ounce. Soymeal and wheat are leading the way lower, while corn is modestly higher with a half hour to go. Traders are awaiting next Friday's USDA report which will give a better indication of state yields. After some rain potential over the weekend and early next week, a return to hot and dry conditions is likely with 90- to 100-degree temps in the Plains and into Iowa. Ukraine's ag minister says new-crop wheat exports could commence next month.

Posted 10:29 -- December corn is up 4 cents per bushel, November soybeans are down 17 1/2 cents, September KC wheat is down 9 3/4 cents, September Chicago wheat is down 4 3/4 cents and September Minneapolis wheat is down 4 1/4 cents. The Dow Jones Industrial Average is down 141.96 points and September crude oil is up $1.53 per barrel. The U.S. Dollar Index is up 1.150 and December gold is down $15.80 per ounce. Soybean meal futures have given up over half of Thursday's dynamic rally, pressuring beans, while bean oil seems to be in lockstep with the minor recovery in crude oil futures. Wheat is just modestly lower, and corn is the opposite in quiet pre-weekend trade.

Posted 08:59 -- December corn is up 1/4 cent per bushel, November soybeans are down 15 cents, September KC wheat is down 4 cents, September Chicago wheat is down 3 1/4 cents and September Minneapolis wheat is down 3 1/4 cents. The Dow Jones Industrial Average is down 83.91 points and September crude oil is up $0.70 per barrel. The U.S. Dollar Index is up 0.950 and December gold is down $18.30 per ounce. Corn is little changed, while wheat and beans are lower, with soybeans down despite confirmation of buying from China and unknown, with a total of nearly 10 mb of new crop beans sold, evenly split between the two. Meal is giving up some of Thursday gains, pressuring the bean market.

Livestock

Posted 11:34 -- October live cattle are up $0.58 at $144.225, September feeder cattle are up $1.68 at $184.25, October lean hogs are up $1.00 at $98.6, December corn is up 6 1/2 cents per bushel and December soybean meal is down $15.90. The Dow Jones Industrial Average is down 91.37 points. The cattle contracts are rallying full steam ahead into Friday afternoon as the market is aiming for a higher close in both the live cattle and feeder cattle contracts. With the cash cattle market trading $1.00 to $2.00 higher this week, both markets found all the fundamental support they needed to push their contracts higher.

Posted 08:36 -- October live cattle are down $0.05 at $143.6, September feeder cattle are up $0.13 at $182.7, October lean hogs are down $0.03 at $97.575, December corn is down 2 3/4 cents per bushel and December soybean meal is down $6.50. The Dow Jones Industrial Average is down 221.78 points. The cattle contracts are trading mixed to start Friday's trade while the lean hog contracts trend mostly lower to begin. The market doesn't expect to see much more cash cattle trade develop, but some clean-up business isn't out of the question.

**

Stay tuned as DTN's Digital Yield 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://spotlights.dtnpf.com/…)