DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is up 35 cents per bushel, November soybeans are up 32 cents, September KC wheat is up 60 cents, September Chicago wheat is up 60 cents and September Minneapolis wheat is up 58 1/2 cents. The Dow Jones Industrial Average is up 211.48 points and September crude oil is up $2.07 per barrel. The U.S. Dollar Index is up 0.240 and August gold is down $5.00 per ounce. At midday grain and the soy complex are flying higher, with both Chicago and Kansas City wheat futures reaching limit bid on the front two to three months. The Russian aggression first against Odesa and now moving to the Danube River port has made it unlikely Ukraine grain can get into world markets except through the EU. Extreme temperatures are expected to last from Tuesday into Saturday at an inopportune time for corn pollination and soybean pod setting.

Posted 10:32 -- December corn is up 24 cents per bushel, November soybeans are up 16 1/4 cents, September KC wheat is up 55 1/4 cents, September Chicago wheat is up 60 cents and September Minneapolis wheat is up 49 1/2 cents. The Dow Jones Industrial Average is up 194.81 points and September crude oil is up $1.69 per barrel. The U.S. Dollar Index is up 0.250 and August gold is down $5.00 per ounce. Wheat and soybean oil are leading ag markets higher early on Monday. Extreme temperatures and a lack of rain are expected in the Corn Belt into the weekend, and Russia's more aggressive attacks on Ukraine export capability are throwing a further bullish factor into prices.

Posted 08:33 -- December corn is up 22 1/2 cents per bushel, November soybeans are up 18 cents, September KC wheat is up 41 cents, September Chicago wheat is up 47 cents and September Minneapolis wheat is up 37 3/4 cents. The Dow Jones Industrial Average is up 52.78 points and September crude oil is up $0.46 per barrel. The U.S. Dollar Index is up 0.190 and August gold is down $2.10 per ounce. USDA announced a new sale of soybeans to China for 2023-24 -- sold 121,000 mt (4.45 mb). Grain and soy markets are up sharply early on Monday due to both the hot and dry forecast for the coming week, and Russia's continued destruction of Ukraine Black Sea and now Danube River shipping ports.

Posted Sunday, July 23, at 7:05 p.m. CDT -- After the Sunday evening open, row crop prices are higher after little rain fell over the weekend. December corn is up 6 cents and November soybeans are up 7 1/4 cents. Temperatures will be hot this week, especially in the western Corn Belt with triple digits reaching southern Minnesota Thursday. After this week, there is a chance for milder temperatures in early August and better chances for rain in the northern Corn Belt in the six-to-10-day forecast. September KC wheat is up 1 1/4 cents and September Minneapolis wheat is up 3/4 cents with better chances for spring wheat areas in the six-to-10-day forecast. September crude oil is down $0.50 and Dow Jones futures are down 46 points. The U.S. Dollar Index is up 0.04 and August gold is down $3.70.

Livestock

Posted 11:38 -- October live cattle are down $0.65 at $181.25, August feeder cattle are down $1.93 at $244.0, October lean hogs are down $1.58 at $82.675, December corn is up 28 cents per bushel and December soybean meal is up $2.10. The Dow Jones Industrial Average is up 195.61 points. The livestock contracts continue to trade lower as higher corn prices only add more pressure to producers' bottom lines. New showlists appear to be lower in all major feeding states.

Posted 08:36 -- October live cattle are down $0.83 at $181.075, August feeder cattle are down $2.68 at $243.25, October lean hogs are down $0.23 at $84.025, December corn is up 18 cents per bushel and December soybean meal is up $2.00. The Dow Jones Industrial Average is up 90.82 points. The cattle contracts are trading lower at Monday's start as the market absorbs Friday's puzzling Cattle on Feed report and traders react to higher corn prices. Traders and cattlemen will be anxious to get the midmorning's report on exactly how many cash cattle were bought last week as it will indicate how lively this week's trade will be.

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