DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 10 1/2 cents per bushel, November soybeans are down 29 cents per bushel. September KC wheat is down 13 3/4 cents per bushel, September Chicago wheat is down 12 cents per bushel and September Minneapolis wheat is down 12 1/2 cents. The Dow Jones Industrial Average is up 622.93 points at 40,558.00 and the U.S. Dollar Index is down 0.040 at 104.32 and September crude oil is down $1.01 per barrel at $77.27. Friday's grain and soy markets are plunging in unison with both hard wheat futures markets again testing lows. Soybeans and soybean oil along with corn have fallen like a rock. The forecast remains mostly hot and dry at least into Aug. 6 before a cooler pattern might unfold. Funds have turned big sellers in all five of the grain and soy markets to end the week.

Posted 10:34 -- December corn is down 7 cents per bushel, November soybeans are down 22 1/4 cents per bushel. September KC wheat is down 7 3/4 cents per bushel, September Chicago wheat is down 4 3/4 cents per bushel and September Minneapolis wheat is down 5 1/2 cents. The Dow Jones Industrial Average is up 619.51 points at 40,554.58 and the U.S. Dollar Index is down 0.010 at 104.34 and September crude oil is down $2.00 per barrel at $76.28. At midmorning, grain and soy markets are all down hard, with soybeans and bean oil leading the way down. Soybean oil has fallen for the fourth consecutive day. Markets are down despite the hot and mostly dry forecast ahead. Chicago September wheat has come within 4 cents of the contract low.

Posted 08:39 -- December corn is down 4 3/4 cents per bushel and November soybeans are down 13 3/4 cents per bushel. September KC wheat is down 5 cents per bushel, September Chicago wheat is down 4 3/4 cents per bushel and September Minneapolis wheat is up 1/2 cent. The Dow Jones Industrial Average is up 269.18 points at 40,204.25 and The U.S. Dollar Index is down 0.090 at 104.27 and September crude oil is down $0.78 per barrel at $77.50. Minneapolis wheat stands alone trading higher following three straight down days. Corn and soybeans are under pressure as despite a mostly hot and dry outlook for the next 10 days, some forecasts have a better chance for a moderating temperature profile beyond that. November beans have given up most of Thursday's rally.

Livestock

Posted 11:48 -- October live cattle are up $0.05 at $188.65, August feeder cattle are up $1.50 at $260.125, October lean hogs are up $0.53 at $78.325, December corn is down 9 cents per bushel and December soybean meal is down $2.70. The Dow Jones Industrial Average is up 705.17 points. Bids of $308 to $310 are currently being offered in the North, but with Northern asking prices firm at $312 to $314, no dressed sales have been reported yet. Packer interest should improve throughout the day given that Northern feedlots have waited this long to trade cattle, prices will likely be higher this week.

Posted 08:38 -- October live cattle are down $0.08 at $188.525, August feeder cattle are up $0.23 at $258.85, October lean hogs are up $0.13 at $77.925, December corn is down 6 cents per bushel and December soybean meal is down $4.90. The Dow Jones Industrial Average is up 441.95 points. The cash cattle market is quiet at Friday's start although all eyes and ears are patiently waiting to hear from any developments in the North. On Thursday some Southern trade was noted at $190 which is $2.00 higher than last week's weighted average, but still no dressed trade has surfaced.

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