DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is up 3 1/4 cents per bushel, July soybeans are down 6 cents per bushel. July KC wheat is up 7 1/4 cents per bushel, July Chicago wheat is up 1 1/4 cents per bushel and July Minneapolis wheat is up 6 cents. The Dow Jones Industrial Average is down 470.00 points at 39,201.04 and The U.S. Dollar Index is up 0.100 at 105.04 and July crude oil is down $0.86 per barrel at $76.71. In a reversal from morning strength the entire soy complex is trading lower, while corn and wheat remain higher. The big news is the still too dry and warming forecast for Russian wheat areas with production estimates there in decline. There has been no confirmation of rumored soybean sales to China for July-August and new crop bean sales remain record low.

Posted 10:34 -- July corn is up 3 1/2 cents per bushel, July soybeans are down 5 1/4 cents per bushel. July KC wheat is up 1 1/2 cents per bushel, July Chicago wheat is down 2 cents per bushel and July Minneapolis wheat is down 1/4 cent. The Dow Jones Industrial Average is down 291.03 points at 39,380.01 and the U.S. Dollar Index is up 0.020 at 104.95 and July crude oil is down $0.47 per barrel at $77.10. At midmorning , soybeans and soy products have moved into negative territory, wheat remains mixed and corn is still firm in very slow trade. Weather remains mostly bullish with the focus on corn and soy planting delays and weather in Black Sea wheat areas which are still too dry with warmer weather moving in.

Posted 08:43 -- July corn is up 4 cents per bushel, July soybeans are up 10 1/4 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 down 1/4 cent. The Dow Jones Industrial Average is down 80.16 points at 39,590.88. The U.S. Dollar Index is down 0.300 at 104.64 and July crude oil is up $1.05 per barrel at $78.62. Wheat markets have now turned mixed to lower from early morning strength, while corn and soy are very firm to begin along with soy products. Trade is quiet, but weather issues are on the front burner, with Corn Belt moisture and Black Sea dryness the primary issues.

Livestock

Posted 11:39 -- August live cattle are up $0.33 at $182., August feeder cattle are up $0.23 at $263.125, July lean hogs are down $0.50 at $97.625, July corn is up 4 1/2 cents per bushel and July soybean meal is down $0.10. The Dow Jones Industrial Average is down 251.76 points. Some light cash cattle trade is beginning to develop in the South for $187 which is $1.00 higher than last week's weighted average. Meanwhile bids of $300 to $302 are currently being offered in the North, but with feedlots asking $305 in the Northern Plains, those bids simply won't do at this point.

Posted 08:38 -- August live cattle are down $0.10 at $181.575, August feeder cattle are down $0.68 at $262.225, July lean hogs are down $0.33 at $97.8, July corn is up 4 cents per bushel and July soybean meal is up $3.40. The Dow Jones Industrial Average is down 82.48 points. Beef net sales of 21,500 mt for 2024 were up 42% from the previous week and 32% from the prior 4-week average. The three largest buyers were China (5,800 mt), South Korea (5,100 mt) and Mexico 2,900 mt). Pork net sales of 26.300 mt for 2024 were up 24% from the previous week but down 3% from the prior 4-week average. The three largest buyers were Mexico (10,300 mt), Japan (4,100 mt) and South Korea (2,600 mt).

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