DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- As we near Friday's close, July corn is up 6 3/4 cents after the Environmental Protection Agency granted a waiver to allow the sale of E15 this summer. July soybeans are up 18 1/2 cents, helped by a $6.50 gain in July soybean meal and news that Argentina's soybean harvest is being delayed by too much rain. July KC wheat is up 6 1/4 cents, July Chicago wheat is up 12 cents and July Minneapolis wheat is up 8 1/2 cents, shaking off this week's concerns about China's cancellations of previous purchases. June crude oil is up $0.57 and Dow Jones futures are up 203 points. The U.S. Dollar Index is down 0.04 and June gold is up $15.10. Outside markets appear to have settled down somewhat after Israel fired a missile at Iran Thursday evening.

Posted 08:38 -- After Friday's 8:30 a.m. CDT open, crop prices have calmed since Thursday night's news Israel conducted a limited missile strike in central Iran. July corn is up 4 cents and July soybeans are up 5 cents. USDA reported 8.5 mb of corn were sold to Mexico and 4.5 mb of soybeans were sold to unknown destinations, the bulk of both sales for 2024-25. July KC wheat is up 2 1/2 cents and July Minneapolis wheat is up 5 1/2 cents. After briefly trading above $85 a barrel Thursday night, June crude oil is near $82 and Dow Jones futures are up 55 points. The U.S. Dollar Index is down 0.23 and June gold is up 10 cents.

Livestock

Posted 12:27 -- June live cattle are down $0.13 at $175.25, May feeder cattle are down $0.68 at $241.875, June lean hogs are up $1.88 at $104.575, May corn is up 6 cents per bushel and July soybean meal is up $5.60. The Dow Jones Industrial Average is up 76.83 points. A few Northern dressed cattle sales have been reported at $292, which is $1.00 lower than last week's weighted average, and some Southern live cattle trade has been reported at $182, which is steady with last week's weighted average. The week's total volume is still thin but the week's weighted averages are likely set.

Posted 08:33 -- June live cattle are down $0.45 at $174.925, May feeder cattle are down $0.88 at $241.675, June lean hogs are steady, May corn is up 3 1/2 cents per bushel and July soybean meal is up $3.10. The Dow Jones Industrial Average is up 56.68 points. It will be a busy day for the cattle complex given that no cash cattle trade has developed yet and given that the monthly Cattle on Feed report will be released later this afternoon. No bids are currently offered, but packer interest is expected to improve rather quickly.

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