DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- July corn is up 3 1/2 cents per bushel, July soybeans are up 8 1/4 cents per bushel. July KC wheat is down 18 3/4 cents per bushel, July Chicago wheat is down 16 1/2 cents per bushel and July Minneapolis wheat is down 17 1/4 cents. The Dow Jones Industrial Average is up 8.58 points at 38,807.57. The U.S. Dollar Index is up 0.280 at 105.16 and July crude oil is up $2.07 per barrel at $77.60. At midday, wheat continues to be under heavy selling pressure on the advancing harvest and thoughts that USDA could raise all-wheat production Wednesday. Corn, soybeans and soymeal are firm going into the close, with soymeal up on Argentine strike talk.
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Posted 10:36 -- July corn is up 1 cent per bushel, July soybeans are up 4 3/4 cents per bushel. July KC wheat is down 18 1/2 cents per bushel, July Chicago wheat is down 16 cents per bushel and July Minneapolis wheat is down 14 1/4 cents. The Dow Jones Industrial Average is down 63.54 points at 38,735.45 and the U.S. Dollar Index is up 0.380 at 105.27 and July crude oil is up $1.57 per barrel at $77.10. At midmorning wheat is still trading down hard with both Chicago and Minneapolis futures down for the ninth consecutive day. The advancing winter wheat harvest, a favorable start to the spring wheat crop, and the pausing of wheat imports until October by Turkey are all weighing on wheat. Corn, soybeans and soymeal are modestly higher while bean oil gave up early gains to trade lower.
Posted 08:38 -- July corn is up 2 1/4 cents per bushel, July soybeans are up 3 1/2 cents per bushel. July KC wheat is down 9 3/4 cents per bushel, July Chicago wheat is down 5 1/4 cents per bushel and July Minneapolis wheat is down 6 3/4 cents. The Dow Jones Industrial Average is down 73.35 points at 38,725.64 and the U.S. Dollar Index is up 0.460 at 105.34 and July crude oil is up $0.47 per barrel at $76.00. Wheat continues to move lower, with Chicago July now on a nine-day losing streak. The news of Turkey halting all wheat imports for four months, along with the advancing U.S. harvest and good early yield indications are pressuring the market. Corn, soy and soy products are modestly higher after it was reported that funds increased their bearish bets on corn and soy.
Posted 19:04 Sunday -- After the Sunday evening open, December corn is up 1 1/2 cents, and November soybeans are up 2 cents. The seven-day forecast expects moderate rain amounts in the upper Midwest and near the Texas Panhandle. July KC wheat is down 3 3/4 cents, and July Minneapolis wheat is down 1/4 cent. Kansas and Missouri received moderate to heavy rain over the weekend, along with some severe weather. Western Ukraine received rain over the weekend and expects more this week, but eastern Ukraine and southwestern Russia have to wait until later this week for better rain chances. Outside markets are mostly quiet. July crude oil is down $0.19, and Dow Jones futures are up 1 point. The U.S. Dollar Index is up 0.18, and August gold is down $9.80.
LivestockPosted 11:34 -- August live cattle are up $2.53 at $179.7, August feeder cattle are up $4.15 at $259.075, July lean hogs are up $0.15 at $93.65, July corn is up 1 3/4 cents per bushel and July soybean meal is up $6.00. The Dow Jones Industrial Average is down 33.11 points. Both the live cattle and feeder cattle contracts are off to a higher start as the market takes note of higher boxed beef prices at midday and hopes to see steady to potentially higher cash cattle trade later this week. New showlists appear to be mixed: higher in Texas, but lower in Kansas and Nebraska/Colorado.
Posted 08:40 -- August live cattle are up $1.18 at $178.35, August feeder cattle are up $1.13 at $256.05, July lean hogs are down $0.40 at $93.1, July corn is up 1 cent per bushel and July soybean meal is up $2.80. The Dow Jones Industrial Average is down 71.98 points. Following last week's late cash cattle trade, both the live cattle and feeder cattle contracts are starting the week higher. Given that last week cash cattle was so thinly traded, it will be inherently important to take note of this morning's report which shows how many cattle were committed to the nearby delivery verses the deferred delivery as it could indicate how aggressive packers will be this week.
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