DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is down 5 3/4 cents per bushel, July soybeans are up 1 1/2 cents per bushel. July KC wheat is down 1 1/2 cents per bushel, July Chicago wheat is down 5 3/4 cents per bushel and July Minneapolis wheat is down 6 1/4 cents. The Dow Jones Industrial Average is up 15.39 points at 39,923.39 and the U.S. Dollar Index is up 0.130 at 104.47 and June crude oil is up $0.66 per barrel at $79.29. Bean oil so far is the star of the day with NOPA indicating stocks were down in the past month and South American bean oil values on the rise. Wheat has given up all of the early gains as the GFS hints at better rain chances for southern Russia. Corn is down more than a nickel with what appears to be a warmer and drier pattern the next 3 days for planting.

Posted 10:41 -- July corn is down 5 1/2 cents per bushel, July soybeans are up 1/4 cent per bushel. July KC wheat is up 2 cents per bushel, July Chicago wheat is down 1 3/4 cents per bushel and July Minneapolis wheat is up 2 cents. The Dow Jones Industrial Average is up 127.78 points at 40,035.78. The U.S. Dollar Index is up 0.110 at 104.45 and June crude oil is up $0.41 per barrel at $79.04. Early strength has dissipated in all but bean oil and the hard wheat markets. Corn is under heavy pressure despite the mostly wet forecast for the Corn Belt. KC wheat, though 15 cents from the daily high, is still firm on falling Russian production potential.

Posted 08:37 -- July corn is up 1 1/2 cents per bushel, July soybeans are up 4 cents per bushel. July KC wheat is up 13 cents per bushel, July Chicago wheat is up 11 1/4 cents per bushel and July Minneapolis wheat is up 12 3/4 cents. The Dow Jones Industrial Average is up 38.84 points at 39,946.84 and the U.S. Dollar Index is up 0.190 at 104.53 and June crude oil is up $1.08 per barrel at $79.71. All but the soybean meal market is higher, led by wheat, rising on the falling production estimates for Russia wheat following a series of frost events and the dry and warm pattern that has impacted the Black Sea and especially southern Russia. Bean oil is getting a boost from the higher crude oil market.

Livestock

Posted 11:44 -- June live cattle are up $1.05 at $179.3, August feeder cattle are up $1.98 at $257.85, June lean hogs are up $1.35 at $98.85, July corn is down 6 cents per bushel and July soybean meal is down $1.70. The Dow Jones Industrial Average is up 66.48 points. The cash cattle market still hasn't seen any trade develop and currently packers aren't offering any bids, but packer interest will likely improve throughout the afternoon. Asking prices in the South are noted at $186 to $187 and in the North at $300.

Posted 08:35 -- June live cattle are up $0.58 at $178.825, August feeder cattle are up $0.78 at $256.65, June lean hogs are down $0.50 at $97.00, July corn is up 1 1/2 cents per bushel and July soybean meal is down $0.60. The Dow Jones Industrial Average is up 29.74 points. Beef net sales of 15,100 mt for 2024 were up 23% from the previous week but down 11% from the prior 4-week average. The three largest buyers were Japan (6,600 mt), China (1,900 mt) and Taiwan (1,700 mt). Pork net sales of 21,100 mt for 21,100 mt for 2024 -- a marketing year low -- were down 14% from the previous week and 22% from the prior 4-week average. The three largest buyers were Japan (4,900 mt), Mexico (4,500 mt) and South Korea (3,200 mt).

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