DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 6 1/2 cents per bushel, November soybeans are up 6 cents, September KC wheat is down 17 3/4 cents, September Chicago wheat is down 11 cents and September Minneapolis wheat is down 10 3/4 cents. The Dow Jones Industrial Average is up 8.43 points and September crude oil is up $2.19 per barrel. The U.S. Dollar Index is down 0.110 and December gold is down $5.30 per ounce. With a half hour until the close, corn and wheat are down hard and near the lows. For December corn, this would be the eighth consecutive lower close, and a drop of nearly 80 cents in that time. Funds are reported to be adding to their net short in Chicago wheat. The GFS weather model seems to have gone drier for Missouri, Iowa, and Illinois with plentiful moisture for central and southern Corn Belt.

Posted 10:38 -- December corn is down 2 1/2 cents per bushel, November soybeans are up 5 1/2 cents, September KC wheat is down 16 1/4 cents, September Chicago wheat is down 8 3/4 cents and September Minneapolis wheat is down 10 1/4 cents. The Dow Jones Industrial Average is down 29.66 points and September crude oil is up $1.76 per barrel. The U.S. Dollar Index is down 0.180 and December gold is down $1.50 per ounce. Wheat is extending losses, corn lower and soybeans and soymeal remain firm, but off the highs. There is very little news other than the cooler and wetter forecast ahead for the next seven days.

Posted 08:36 -- December corn is down 1 1/4 cents per bushel, November soybeans are up 7 1/4 cents, September KC wheat is down 5 cents, September Chicago wheat is down 3/4 cent and September Minneapolis wheat is up 1 3/4 cents. The Dow Jones Industrial Average is down 107.04 points and September crude oil is up $0.56 per barrel. The U.S. Dollar Index is up 0.100 and December gold is down $4.60 per ounce. USDA announced another sale of new crop soybeans to China -- sold 134,000 (4.9 million bushels) mt for 2023-24. Soybeans and soymeal are firm early on Thursday following big new crop sales last week and another new sale to China. Wheat and corn are mixed to lower in quiet trade. Corn may be seeing a bit of pressure from Stone X lofty yield estimate.

Livestock

Posted 11:40 -- October live cattle are up $0.35 at $180.85, September feeder cattle are up $0.85 at $250.95, October lean hogs are down $2.85 at $82.025, December corn is down 3 cents per bushel and December soybean meal is up $7.00. The Dow Jones Industrial Average is down 5.47 points. In cattle feeding country a few bids are now on the table ($175 in Kansas, $290 to $295 in Nebraska and Iowa). Southern asking prices are around $180-plus. But Northern asking prices are still not established.

Posted 08:48 -- October live cattle are up $0.15 at $180.65, September feeder cattle are down $0.03 at $250.075, October lean hogs are down $1.63 at $83.25, December corn is down 2 1/4 cents per bushel and December soybean meal is up $6.50. The Dow Jones Industrial Average is down 99.55 points. Still no bids or asking prices reported in cash cattle country. Significant trade volume will likely be delayed until later Thursday afternoon and/or Friday. For the period of July 21 to July 27 net export sales of 12,400 mt for 2023 were down 42% from the previous week and 28% from the prior four-week average. The destinations were primarily to South Korea (4,900 mt), Japan (4,000 mt), China (2,400 mt), Mexico (1,700 mt), and Taiwan (1,300 mt).

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