DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is up 1 3/4 cents per bushel, November soybeans are down 12 cents per bushel. September KC wheat is up 8 1/4 cents per bushel, September Chicago wheat is up 7 1/4 cents per bushel and September Minneapolis wheat is up 4 1/4 cents. The Dow Jones Industrial Average is down 18.31 points at 40,571.03. The U.S. Dollar Index is up 0.220 at 104.54 and September crude oil is down $1.45 per barrel at $75.71. At midday, corn is up a few cents, wheat is very firm, but soybeans and soybean oil, while still down hard, have moved well above the lows. Funds as of noon had sold close to 10,000 contracts of beans along with selling meal and oil. Rumors have China buying Argentine beans and seeking offers on October-November U.S. soybeans.

Posted 10:34 -- December corn is down 1 cent per bushel, November soybeans are down 17 cents per bushel. September KC wheat is up 8 1/4 cents per bushel, September Chicago wheat is up 6 3/4 cents per bushel and September Minneapolis wheat is up 3 cents. The Dow Jones Industrial Average is down 90.66 points at 40,498.68 and the U.S. Dollar Index is up 0.250 at 104.57 and September crude oil is down $1.16 per barrel at $76.00. At midmorning, wheat has recovered to trade higher after falling to new lows. December corn has moved back close to unchanged, while the soy complex remains under heavy pressure, with soybeans and bean oil scoring new lows.

Posted 08:37 -- December corn is down 2 3/4 cents per bushel, November soybeans are down 19 cents per bushel. September KC wheat is down 3/4 cent per bushel, September Chicago wheat is down 4 3/4 cents per bushel and September Minneapolis wheat is down 2 3/4 cents. The Dow Jones Industrial Average is up 81.76 points at 40,671.10. The U.S. Dollar Index is up 0.290 at 104.61 and September crude oil is up $0.23 per barrel at $77.39. New contract lows in soybean, wheat and soybean oil markets headline the start to the new week. Despite extreme heat and dryness in several areas, traders are still touting the potential for record corn, soy and spring wheat yields this year. Funds are no doubt adding to short positions early Monday.

Posted 19:05 (07/28) -- After the Sunday evening open, row-crop prices are under pressure with a mixed forecast ahead. December corn is down 2 1/2 cents and November soybeans are down 10 1/4 cents. Temperatures will be hot in the western Plains this week, encroaching into the central Midwest on Wednesday. Chances for moderate rains will help protect crop conditions in much of the Central and Eastern Corn Belt, while crops will be stressed in western growing areas. September KC wheat is up 6 3/4 cents and September Minneapolis wheat is up 6 cents with another week of dry weather expected across the northwestern Plains. September crude oil is up $0.06 and Dow Jones futures are up 88 points. The U.S. Dollar Index is up 0.06 and August gold is up $15.80. Israel is preparing to respond to Saturday's attack on Golan Heights by Hezbollah in Lebanon as fighting remains a concern in the Middle East.

Livestock

Posted 11:44 -- October live cattle are down $1.03 at $187.525, August feeder cattle are down $2.48 at $257.225, October lean hogs are down $3.38 at $74.825, December corn is up 3/4 cent per bushel and December soybean meal is steady. The Dow Jones Industrial Average is up 9.16 points. Last week's negotiated cash cattle trade totaled 73,164 head. Of that 79% (57,696 head) were committed to the nearby delivery, while the remaining 21% (15,468 head) were committed to the deferred delivery.

Posted 08:37 --.October live cattle are up $0.15 at $188.70, August feeder cattle are up $0.30 at $260.00, October lean hogs are down $0.65 at $77.55, December corn is down 1 1/4 cents per bushel and December soybean meal is down $5.70. The Dow Jones Industrial Average is down 72.33 points. Following the $2.00 jump in last week's cash market, it will be imperative to see exactly how many cattle were bought last week as it will likely indicate how this week's trade will take shape. Traders could be hesitant to overly support the live cattle complex early this week until they see how the fed cash cattle market shakes out.

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