DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is down 3 cents per bushel, July soybeans are down 18 cents per bushel. July KC wheat is up 6 cents per bushel, July Chicago wheat is up 2 cents per bushel and July Minneapolis wheat is up 2 1/4 cents. The Dow Jones Industrial Average is down 245.94 points at 38,823.65 and the U.S. Dollar Index is down 0.070 at 104.52 and July crude oil is up $2.07 per barrel at $79.79. As we head into the close, soybeans and soymeal are under heavy pressure with corn down a few cents. Soybean oil continues to be firm and wheat is higher, though sharply under overnight highs. There is more talk that both Russian and Ukraine wheat production is falling on dry weather and likely frost damage, but corn and soy planting are expected to make big gains and next week's condition reports are likely to be favorable with much improved soil moisture conditions.

Posted 10:34 -- At midday Tuesday, December corn is down 2 3/4 cents and November soybeans are down 11 3/4 cents, falling back ahead of Tuesday afternoon's Crop Progress report. July KC wheat is up 9 1/2 cents and July Minneapolis wheat is up 3 1/2 cents with traders still showing concern about crop conditions in Russia. July crude oil is up $1.96 with some concern about what OPEC+ will do when they meet next week. Dow Jones futures are down 129 points, the U.S. Dollar Index is down 0.15 and June gold is up $25.80.

Posted 08:36 -- July corn is up 1 cent per bushel, July soybeans are down 9 cents per bushel. July KC wheat is up 9 cents per bushel, July Chicago wheat is up 5 1/4 cents per bushel and July Minneapolis wheat is up 5 1/2 cents. The Dow Jones Industrial Average is down 134.64 points at 38,934.95. The U.S. Dollar Index is down 0.220 at 104.38 and July crude oil is up $1.72 per barrel at $79.44. USDA reported corn sales to Mexico of 215,000 mt (8.5 mb), with 165,000 mt (6.5 mb) for 2023-24, and another 50,000 mt (2 mb) for 2024-25 crop year. Corn is barely higher, soybeans and soymeal lower while wheat is higher, though well below overnight highs as KC July gapped higher on falling Black Sea wheat production estimates.

Posted 19:06 (05/27) -- After the Monday evening open, crop prices are starting higher. December corn is up 3 3/4 cents and November soybeans are up 5 cents. After a wet weekend of severe weather across the central and southern United States, Monday's radar shows rain moving eastward across southern Minnesota, Iowa and Wisconsin. July KC wheat is up 21 1/4 cents and July Minneapolis wheat is up 11 1/2 cents with above-normal temperatures expected around the Black Sea region the next 10 days. July crude oil is up $0.95 and Dow Jones futures are up 17 points. The U.S. Dollar Index is down 0.03 and June gold is up $18.90. European and Asian stocks were mostly higher on Monday.

Livestock

Posted 11:29 -- August live cattle are up $0.40 at $181.525, August feeder cattle are up $3.85 at $264.075, July lean hogs are down $0.45 at $96.775, July corn is down 3 1/2 cents per bushel and July soybean meal is down $9.90. The Dow Jones Industrial Average is down 170.09 points. With midday boxed beef prices higher and traders taking note of Friday's encouraging Cattle on Feed Report, both the live cattle and feeder cattle contracts are trading higher into Tuesday's noon hour. Meanwhile, the lean hog complex trades mixed as the nearby contracts are concerned about immediate demand.

Posted 08:37 -- August live cattle are up $0.15 at $181.275, August feeder cattle are up $0.40 at $260.625, July lean hogs are down $0.50 at $96.725, July corn is up 1 1/4 cents per bushel and July soybean meal is down $3.70. The Dow Jones Industrial Average is down 111.91 points. Both the live cattle and feeder cattle markets are trading higher at Tuesday's start as traders are pleased with the bullish support of Friday's Cattle on Feed report. No bids or asking prices are posted yet, and it's likely that cash cattle trade will be delayed until Thursday or Friday.

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