DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is down 4 cents per bushel, November soybeans are down 3 cents per bushel. September KC wheat is up 3 1/4 cents per bushel, September Chicago wheat is up 1/2 cent per bushel and September Minneapolis wheat is unchanged. The Dow Jones Industrial Average is up 30.89 points at 39,143.05 and the U.S. Dollar Index is up 0.370 at 105.98 and August crude oil is up $0.56 per barrel at $81.39. Just ahead of the close, the early morning gains appear to be dissipating in corn, soybeans and even wheat. Wheat is mixed with KC still higher but down 11 to 12 cents from the morning high. Rumors of Brazil interest in U.S. hard wheat and an oversold condition spurred on solid early gains. A lower close today for KC would be the 17th in the past 20 days.

Posted 10:38 -- July corn is up 3/4 cent per bushel, November soybeans are down 2 1/2 cents per bushel. September KC wheat is up 7 1/4 cents per bushel, September Chicago wheat is up 6 cents per bushel and September Minneapolis wheat is up 5 3/4 cents. The Dow Jones Industrial Average is down 46.93 points at 39,065.23. The U.S. Dollar Index is up 0.410 at 106.01 and August crude oil is down $0.51 per barrel at $80.32. Mid-morning, wheat is finally showing some life and trying to avoid the 18th lower close in the past 20 days. Spot corn and beans are showing some strength on the heels of the strong basis levels.

Posted 08:39 -- July corn is down 1 1/2 cents per bushel, November soybeans are down 5 1/2 cents per bushel. September KC wheat is up 1 1/2 cents per bushel, September Chicago wheat is steady and September Minneapolis wheat is up 3 1/2 cents. The Dow Jones Industrial Average is down 111.52 points at 39,000.64. The U.S. Dollar Index is up 0.500 at 106.11 and August crude oil is down $0.14 per barrel at $80.69. Corn and soybeans are mostly lower, while wheat is mixed to start in slow trade. The markets are very oversold, but funds continue to add to their short bias in all but soybean meal, which they remain long in.

Livestock

Posted 11:42 -- August live cattle are up $1.40 at $185.825, August feeder cattle are up $2.00 at $261.05, August lean hogs are up $2.05 at $88.8, July corn is down 1/4 cent per bushel and July soybean meal is down $4.40. The Dow Jones Industrial Average is up 36.41 points. Asking prices are noted in the South at $192 to $194 but are still not known for the North. At this point with the futures complex trading higher it's likely the cash cattle market won't see much trade until Friday as feedlot managers will likely hold out as late as possible in the week to try to advance prices.

Posted 08:36 -- August live cattle are up $0.25 at $184.675, August feeder cattle are up $0.38 at $259.425, August lean hogs are down $0.08 at $86.675, July corn is steady and July soybean meal is steady. The Dow Jones Industrial Average is down 176.18 points. Asking prices in the South are noted at $192 plus but are still not established yet in the North. It's likely that trade will be delayed until late in the week again as feedlots aim to move the market even higher while supplies are tight and beef demand is incredibly strong.

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