DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is up 4 1/2 cents per bushel, July soybeans are up 10 1/2 cents per bushel. July KC wheat is up 1/2 cent per bushel, July Chicago wheat is down 2 cents per bushel and July Minneapolis wheat is up 1 1/4 cents. The Dow Jones Industrial Average is down 151.60 points at 39,721.39 and the U.S. Dollar Index is up 0.130 at 104.79 and July crude oil is down $0.89 per barrel at $77.77. Just ahead of the close, the wheat markets are trying to fight back into positive territory but remain well below the daily highs. The markets have been a bit overbought, but the bullish weather outlook remains intact, with little to no rain on tap for western Russian wheatfields and much of the Black Sea. Corn and soy remain firm on China rumors and the strength in soy products.

Posted 10:36 -- July corn is up 3 cents per bushel, July soybeans are up 4 1/2 cents per bushel. July KC wheat is up 1 1/4 cents per bushel, July Chicago wheat is down 1/2 cent per bushel and July Minneapolis wheat is down 3/4 cent. The Dow Jones Industrial Average is down 65.22 points at 39,807.77. The U.S. Dollar Index is up 0.110 at 104.77 and July crude oil is down $0.67 per barrel at $77.99. Wheat futures have backed off sharply from overnight and morning highs, with all three now trading near unchanged. Soybeans and corn remain slightly firmer, and bean oil is the strong leg of the soy complex. There is not much news aside from various world weather concerns.

Posted 08:39 -- July corn is up 2 3/4 cents per bushel, July soybeans are up 2 3/4 cents per bushel. July KC wheat is up 9 1/4 cents per bushel, July Chicago wheat is up 7 1/4 cents per bushel and July Minneapolis wheat is up 3 3/4 cents. The Dow Jones Industrial Average is down 64.42 points at 39,808.57. The U.S. Dollar Index is up 0.100 at 104.76 and July crude oil is down $1.07 per barrel at $77.59. Grain and soy markets are all higher except for soybean meal. Weather issues around the globe, with the primary driver the dryness and freeze events impacting Russian and Ukraine wheat, appear to be the driving force. Recent heavy rain and severe weather will likely slow U.S. planting even more.

Livestock

Posted 11:40 -- August live cattle are up $0.85 at $181.275, August feeder cattle are up $2.53 at $262.35, June lean hogs are down $1.08 at $95.325, July corn is up 3 1/2 cents per bushel and July soybean meal is up $0.80. The Dow Jones Industrial Average is down 32.28 points. Both the live cattle and feeder cattle contracts are trading higher into Wednesday's noon hour as the power and momentum behind the feeder cattle rally is bolstering the entire cattle sector. Meanwhile demand remains a bitter issue for the hog complex and its market is continuing to trade lower.

Posted 08:36 -- August live cattle are up $0.25 at $180.675, August feeder cattle are up $0.18 at $260.00, June lean hogs are down $0.10 at $96.30, July corn is up 3 cents per bushel and July soybean meal is down $0.40. The Dow Jones Industrial Average is down 53.22 points. Thanks to fruitful demand and continued fundamental support, both the live cattle and feeder cattle contracts are again trading higher at Wednesday's start. Asking prices are noted in the Southern Plains at $188 to $190 but no trade has developed yet and no asking prices have been confirmed in the North.

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