DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 5 3/4 cents per bushel, November soybeans are down 9 cents per bushel. September KC wheat is down 9 cents per bushel, September Chicago wheat is down 7 1/2 cents per bushel and September Minneapolis wheat is down 8 1/4 cents. The Dow Jones Industrial Average is up 46.87 points at 39,044.53. The U.S. Dollar Index is up 0.230 at 103.20 and September crude oil is up $2.06 per barrel at $75.26. Just ahead of the close bean oil futures are the only contracts in the green. Corn, soybeans and wheat are all resting just above the daily lows. Traders are convinced that the corn crop is on the way to a 182-183 bpa yield, while soybeans look to be 52-53 bpa. The fact that no new soy sales to China were announced despite daily rumors of large purchases is also adding to soy pressure.

Posted 10:40 -- December corn is down 3 3/4 cents per bushel, November soybeans are down 7 1/4 cents per bushel. September KC wheat is down 7 cents per bushel, September Chicago wheat is down 6 cents per bushel and September Minneapolis wheat is down 3 1/4 cents. The Dow Jones Industrial Average is up 374.33 points at 39,371.99 and the U.S. Dollar Index is up 0.180 at 103.14 and September crude oil is up $2.58 per barrel at $75.78. At midmorning soybean oil is flying higher with crude oil, while corn, soybeans, soymeal and now wheat are fading. Just another wheat head fake to go along with other failed rallies that we have seen for months. There is not a whole lot of news, but the perception of record yield potential is weighing on all three markets.

Posted 08:39 -- December corn is down 2 1/4 cents per bushel, November soybeans are down 6 1/2 cents per bushel. September KC wheat is up 1 3/4 cents per bushel, September Chicago wheat is up 2 1/4 cents per bushel and September Minneapolis wheat is up 3 1/4 cents. The Dow Jones Industrial Average is up 227.02 points at 39,224.68. The U.S. Dollar Index is up 0.180 at 103.15 and September crude oil is up $1.39 per barrel at $74.59. Wheat markets are firming up for the fifth straight day, rising on the increase in wheat importer interest and weather issues in the Black Sea and EU. Corn, soybeans and soymeal are all lower on good conditions and the prospect for record large yields. Soybean oil is bouncing from Tuesday's new contract low as crude oil recovers.

Livestock

Posted 11:21 -- October live cattle are down $0.40 at $178.65, September feeder cattle are down $0.93 at $239.65, October lean hogs are down $1.58 at $74.825, December corn is down 4 1/4 cents per bushel and December soybean meal is down $6.30. The Dow Jones Industrial Average is up 208.90 points. Currently, a low bid of $305 is being offered in Nebraska, but otherwise, the cash cattle market sits idle. Given that packers haven't shown the market much interest yet, it's looking like the bulk of this week's trade could be delayed at least another day.

Posted 08:38 -- October live cattle are up $0.05 at $179.05, September feeder cattle are down $0.67 at $249.57, October lean hogs are up $0.67 at $76.40. December corn is down 2 1/4 cents per bushel. The Dow Jones Industrial Average is up 227.02 points at 39,224.68. The U.S. Dollar Index is up 0.180 at 103.15 and September crude oil is up $1.39 per barrel at $74.59. The cash cattle market is quiet again at Wednesday's start but asking prices are noted at $188 to $190 in the South. Packer interest could improve throughout the day, but trade could be delayed until later in the week as market cautiousness remains the key theme in the cattle complex.

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