DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- December corn is up 1/4 cent per bushel, November soybeans are down 10 cents per bushel. September KC wheat is down 7 3/4 cents per bushel, September Chicago wheat is down 7 cents per bushel and September Minneapolis wheat is down 3 cents. The Dow Jones Industrial Average is up 196.35 points at 39,488.32 and The U.S. Dollar Index is down 0.060 at 105.07 and August crude oil is up $0.67 per barrel at $82.08. Just ahead of the close, soybeans, products and wheat remain down hard, with November hitting a new contract low and Chicago wheat coming within a few cents of the low. Funds continue to add to bearish bets on wheat and beans. Corn is independently strong as the basis has accelerated to the upside.

Posted 10:35 -- December corn is down 1 1/2 cents per bushel, November soybeans are down 6 3/4 cents per bushel. September KC wheat is down 11 cents per bushel, September Chicago wheat is down 8 3/4 cents per bushel and September Minneapolis wheat is down 6 3/4 cents. The Dow Jones Industrial Average is up 76.44 points at 39,368.41. The U.S. Dollar Index is down 0.100 at 105.03 and August crude oil is up $0.96 per barrel at $82.37. Wheat markets continue to trade sharply lower with Chicago and Minneapolis September coming within 4 to 6 cents of the low. Soybeans have made an about face, with November scoring another new contract low. Traders fear a bearish USDA report on Friday and funds appear to be adding to their bearish bets.

Posted 08:44 -- December corn is down 2 3/4 cents per bushel, November soybeans are up 3 cents per bushel. September KC wheat is down 12 1/2 cents per bushel, September Chicago wheat is down 11 1/4 cents per bushel and September Minneapolis wheat is down 6 1/4 cents. The Dow Jones Industrial Average is down 5.48 points at 39,286.49, the U.S. Dollar Index is down 0.060 at 105.07 and August crude oil is down $0.19 per barrel at $81.22. The USDA announced a new sale of new-crop soybeans to China: sold 132,000 mt (4.85 bb) for the 2024-25 crop year. This is the first sale of new crop beans to China. The wheat markets are down hard, and breaking out of a sideways range for the past 10 days.

Livestock

Posted 11:38 -- August live cattle are down $0.10 at $182.25, August feeder cattle are down $0.90 at $254.825, August lean hogs are down $3.05 at $85.35, December corn is down 1 1/4 cents per bushel and December soybean meal is down $1.80. The Dow Jones Industrial Average is up 169.57 points. Bids of $188 are currently being offered in Kansas and Texas, but no cash cattle sales have been reported yet. Asking prices are noted at $190 in the South but are still not established in the North.

Posted 08:51 -- August live cattle are down $0.08 at $182.275, August feeder cattle are down $0.05 at $255.675, August lean hogs are down $1.00 at $87.4, December corn is down 3 1/4 cents per bushel and December soybean meal is up $1.40. The Dow Jones Industrial Average is down 6.12 points. The livestock complex is again trading lower as traders continue to be leery market participants as they question demand in both the pork and beef markets. Boxed beef prices closed lower Tuesday afternoon indicating that the seasonal high has most likely been established.