DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is up 2 1/4 cents per bushel, July soybeans are down 1 1/4 cents, July KC wheat is up 5 3/4 cents, July Chicago wheat is down 2 cents and July Minneapolis wheat is up 8 1/4 cents. The Dow Jones Industrial Average is down 47.68 points and July crude oil is down $2.63 per barrel. The U.S. Dollar Index is up 0.300 and June gold is down $20.40 per ounce. The ag markets seem to reflect the dichotomy of some bearish financial news, and a rapid planting pace versus a 10-day forecast for the central U.S. which is turning warmer and drier in the next few weeks, and tight domestic corn and soy supplies. Crude oil and equities are again lower on talk of a weaker Chinese and global economy and the debt ceiling issue, which remains unsolved heading into a long weekend.

Posted 10:34 -- July corn is up 3 3/4 cents per bushel, July soybeans are down 1 3/4 cents, July KC wheat is up 12 3/4 cents, July Chicago wheat is up 5 1/2 cents and July Minneapolis wheat is up 9 3/4 cents. The Dow Jones Industrial Average is down 147.25 points and July crude oil is down $2.35 per barrel. The U.S. Dollar Index is up 0.340 and June gold is down $19.10 per ounce. Wheat and soybean oil are leading the way higher midmorning Thursday, while corn, beans and meal are just down slightly. Financial worries have sent crude oil and equities lower again, and that is a bearish weight overhanging ag futures as well.

Posted 08:36 -- July corn is up 4 1/4 cents per bushel, July soybeans are up 1/4 cent, July KC wheat is down 1 1/2 cents, July Chicago wheat is up 5 1/2 cents and July Minneapolis wheat is up 2 cents. The Dow Jones Industrial Average is down 122.76 points and July crude oil is down $2.12 per barrel. The U.S. Dollar Index is up 0.270 and June gold is down $14.80 per ounce. Financial market concerns tied to the debt ceiling standoff, clear weather for the finish of planting, and the second week of net sales cancellations in corn and wheat, pressured grain and soy markets early. However, the corn calendar spread continues to reflect tight supplies, with the July-September spread widening the inverse, and Chicago and Minneapolis wheat have moved higher.

Livestock

Posted 11:36 -- August live cattle are up $0.13 at $164.25, August feeder cattle are down $0.33 at $234.2, July lean hogs are down $3.10 at $77.725, July corn is up 1 1/2 cents per bushel and July soybean meal is down $5.30. The Dow Jones Industrial Average is down 120.22 points. The charging spirit of the cash cattle market is still the driving factor leading both the live cattle and feeder cattle contracts higher into Thursday's noon hour. No new cash cattle trade has been reported, but some clean-up trade could still develop.

Posted 08:36 -- August live cattle are up $0.33 at $164.45, August feeder cattle are up $0.45 at $234.975, July lean hogs are down $1.68 at $79.15, July corn is up 5 1/4 cents per bushel and July soybean meal is up $1.00. The Dow Jones Industrial Average is down 102.26 points. Beef net sales of 18,300 mt for 2023 were up 5% from the previous week and 15% from the prior four-week average. The three largest buyers were Japan (5,500 mt), South Korea (3,800 mt) and China (2,500 mt). Pork net sales of 29,200 mt for 2023 were down 8% from the previous week and 29% from the prior four-week average. The three largest buyers were Mexico (14,400 mt), Japan (4,400 mt) and South Korea (4,400 mt).

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