DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- December corn is up 2 1/4 cents per bushel, November soybeans are up 6 cents per bushel. September KC wheat is down 3 1/4 cents per bushel, September Chicago wheat is down 3 1/4 cents per bushel and September Minneapolis wheat is down 5 3/4 cents. The Dow Jones Industrial Average is down 30.45 points at 40,384.99. The U.S. Dollar Index is up 0.140 at 104.45 and September crude oil is down $1.26 per barrel at $77.14. At midday, soybeans have set back but corn and beans remain modestly higher on the threat of hotter and drier weather through the first week in August. Wheat has turned south again after four higher days, as profit-taking is occurring.
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Posted 10:33 -- December corn is up 6 3/4 cents per bushel, November soybeans are up 15 3/4 cents per bushel. September KC wheat is up 4 cents per bushel, September Chicago wheat is up 3 3/4 cents per bushel and September Minneapolis wheat is up 5 1/2 cents. The Dow Jones Industrial Average is up 53.41 points at 40,468.85. The U.S. Dollar Index is up 0.160 at 104.47 and September crude oil is down $1.71 per barrel at $76.69. At mid-morning, soybeans are soaring with November running right to the 20-day moving average for the first time since early July. December corn has now rallied well above the 20-day average as the forecast shows a hot and dry pattern that could extend to mid-August. Funds are undoubtedly buying in shorts on Tuesday.
Posted 08:39 -- December corn is up 4 1/4 cents per bushel, November soybeans are up 11 1/2 cents per bushel. September KC wheat is down 1 1/2 cents per bushel, September Chicago wheat is down 1/4 cent per bushel and September Minneapolis wheat is down 1 1/2 cents. The Dow Jones Industrial Average is down 45.60 points at 40,369.84. The U.S. Dollar Index is up 0.180 at 104.49 and September crude oil is down $0.66 per barrel at $77.74. USDA announced another new corn sale to unknown destinations -- 200,000 mt, or 7.9 mb, of corn for 2024-25 delivery. Corn, soybeans, and soy products are now moving sharply higher on the concerning weather forecast and likely fund short covering. Wheat also rebuffed early losses to move back close to unchanged.
LivestockPosted 11:41 -- October live cattle are up $0.85 at $185.45, August feeder cattle are up $1.58 at $257.975, October lean hogs are up $1.43 at $77.40, December corn is up 4 1/2 cents per bushel and December soybean meal is up $1.40. The Dow Jones Industrial Average is up 3.61 points. With traders showing the livestock contracts plenty of support and interest, the market hasn't struggled an ounce to trade higher thus far through Tuesday's trade. No cash cattle trade has developed yet and it's not likely that any will ahead of Wednesday.
Posted 08:37 -- October live cattle are down $0.15 at $184.45, August feeder cattle are down $0.50 at $255.90, October lean hogs are up $1.15 at $77.125, December corn is up 4 3/4 cents per bushel and December soybean meal is up $1.10. The Dow Jones Industrial Average is up 6.79 points. Following Monday's supportive trend, the livestock complex is again hoping to see follow-through support from traders but at Tuesday's start the cattle contracts are trading mildly lower. The cash cattle market hasn't noted any trade yet, and bids and asking prices have not been established yet. Trade will likely be delayed for at least another day.
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