DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is up 4 1/2 cents per bushel, November soybeans are up 6 cents per bushel. September KC wheat is up 16 1/2 cents per bushel, September Chicago wheat is up 14 1/2 cents per bushel and September Minneapolis wheat is up 10 1/4 cents. The Dow Jones Industrial Average is up 29.96 points at 39,751.32. The U.S. Dollar Index is down 0.770 at 104.28 and August crude oil is down $0.27 per barrel at $81.83. Grain and soy markets are higher on Thursday, with beans and corn bouncing from fresh contract lows scored on Wednesday. Brazil's crop agency CONAB revised their corn estimate upward by 1.7% to 115.9 mmt compared to USDA's 122 mmt. Soybeans were left unchanged, at 147.3 mmt, still well below USDA's June estimate of 153 mmt.

Livestock

Posted 08:34 -- August live cattle are up $0.45 at $182.70, August feeder cattle are up $1.30 at $255.65, August lean hogs are down $0.48 at $84.20, December corn is up 5 cents per bushel and December soybean meal is steady. The Dow Jones Industrial Average is up 22.12 points. Beef net sales of 8,300 mt for 2024 -- a marketing year low -- were down 46% from the previous week and 43% from the prior 4-week average. The three primary buyers were South Korea (2,500 mt), China (1,900 mt) and Japan (1,400 mt). Pork net sales of 26,500 mt for 2024 were down 55% from the previous week and 29% from the prior 4-week average. The three primary buyers were Mexico (9,000 mt), Japan (6,400 mt) and China (3,400 mt).

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