DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- As we near Friday's close, December corn is up 1 cent and November soybeans are down 4 3/4 cents in quiet trading with a benign forecast for the week ahead. Soy products are quietly mixed. September KC wheat is up 6 1/4 cents and September Minneapolis wheat is up 7 1/4 cents after September milling wheat in France closed up 4.1% with talk about quality issues at harvest and more rain on the way to western Europe this weekend. September crude oil is down $2.52 with ongoing concerns about slower growth in China. Dow Jones futures are down 487 points. The U.S. Dollar Index is up 0.20 and August gold is down $57.60. According to CNBC.com, the information technology sector is leading Friday's broad market losses after a software update disrupted the internet earlier Friday.

Posted 10:35 -- At midmorning Friday, December corn is up 2 cents and November soybeans are up 1/4 cent with favorable forecasts for most growing areas the next seven days, aided by moderate summer temperatures. September KC wheat is up 12 1/4 cents and September Minneapolis wheat is up 14 1/2 cents, supported by a hot and dry forecast for spring wheat areas and talk of disappointing harvest in Europe. September crude oil is down $1.20 and Dow Jones futures are down 401 points after a software update caused a global technology outage earlier Friday. The U.S. Dollar Index is up 0.15 and August gold is down $49.50.

Posted 08:41 -- December corn is up 3 1/4 cents per bushel, November soybeans are up 2 cents per bushel. September KC wheat is up 5 1/2 cents per bushel, September Chicago wheat is up 8 1/2 cents per bushel and September Minneapolis wheat is up 7 1/2 cents. The Dow Jones Industrial Average is down 161.13 points at 40,503.89. The U.S. Dollar Index is up 0.170 at 104.35 and September crude oil is down $0.98 per barrel at $80.32. For the second straight day, the USDA announced a new sale of soybean cake and meal to unknown destinations of 105,000 mt, for a total of 255,000 mt in the past two days. Grain and soy markets are firmer with wheat leading the way. Reports of poor-quality wheat being harvested in Germany and France with low test weights and protein is getting into the market.

Livestock

Posted 11:30 -- August live cattle are up $0.70 at $182.95, August feeder cattle are down $0.38 at $255.85, August lean hogs are up $0.55 at $91.925, December corn is up 1 cent per bushel and December soybean meal is down $1.90. The Dow Jones Industrial Average is down 323.18 points. Bids of $310 dressed have been renewed in Nebraska, but at this point, no new sales have been reported for the day. It's looking like the bulk of the week's trade is done with, although some clean-up sales are still possible.

Posted 08:38 -- August live cattle are down $0.28 at $181.975, August feeder cattle are down $1.50 at $254.725, August lean hogs are up $0.53 at $91.90, December corn is up 3 1/4 cents per bushel and December soybean meal is up $0.50. The Dow Jones Industrial Average is down 103.12 points. Bids of $310 have been renewed in Nebraska, but no new trade has been reported yet. Later Friday afternoon the market will see the latest Cattle on Feed report, and on-feed totals are expected to be greater than a year ago.

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