DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is up 6 3/4 cents per bushel, July soybeans are up 15 cents per bushel. July KC wheat is up 11 1/2 cents per bushel, July Chicago wheat is up 7 cents per bushel and July Minneapolis wheat is up 7 1/4 cents. The Dow Jones Industrial Average is up 218.22 points at 38,121.51. The U.S. Dollar Index is down 0.030 at 105.72 and June crude oil is up $0.29 per barrel at $79.29. Grain and soy markets are up sharply early Thursday on the prospect for weather delays for corn and bean planting and ongoing dryness in some key wheat producing regions, including the U.S. southwestern Plains. A close above $4.60 on July corn and $11.85 on July beans could accelerate fund short covering.

Livestock

Posted 08:37 -- June live cattle are up $3.23 at $177.075, August feeder cattle are up $4.93 at $256.675, June lean hogs are down $0.20 at $100.225, July corn is up 6 3/4 cents per bushel and July soybean meal is up $5.20. The Dow Jones Industrial Average is up 219.18 points. Beef net sales of 22,500 mt for 2024, a marketing year high, were up 48% from the previous week and 38% from the prior 4-week average. The three largest buyers were South Korea (9,600 mt), Japan (5,200 mt) and Taiwan (2,500 mt). Pork net sales of 33,600 mt for 2024 were up 17% from the previous week and 6% from the previous 4-week average. The three primary buyers were Mexico (21,600 mt), Japan (4,200 mt) and Canada (1,300 mt).

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