DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 2 3/4 cents per bushel, November soybeans are up 1 1/2 cents per bushel. September KC wheat is down 7 cents per bushel, September Chicago wheat is down 4 1/2 cents per bushel and September Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average is up 502.88 points at 40,511.27. The U.S. Dollar Index is up 0.460 at 103.03 and September crude oil is up $1.13 per barrel at $78.11. Paris wheat futures are tanking, down for the fourth consecutive day, trading at lows not seen since March. U.S. wheat markets are lower in unison. Russian cash wheat values are now trading down near the yearly low. Corn is slightly lower with beans a couple of cents higher in dull trade. U.S. corn and soy exporters enjoy a healthy discount to competitors. Soybean crush was reported at a hefty 182.9 mb in July, a record for that month.

Posted 10:34 -- December corn is down 1/2 cent per bushel, November soybeans are up 8 3/4 cents per bushel. September KC wheat is down 1 1/4 cents per bushel, September Chicago wheat is up 1 1/4 cents per bushel and September Minneapolis wheat is up 1/2 cent. The Dow Jones Industrial Average is up 437.31 points at 40,445.70 and the U.S. Dollar Index is up 0.330 at 102.90 and September crude oil is up $1.57 per barrel at $78.55. At midmorning soybeans and soy products remain firm, while both corn and wheat have leaked slightly lower on a day with little news. Record yield estimates are offsetting what should be a better demand profile for both soybeans and corn.

Posted 08:37 -- December corn is down 3/4 cent per bushel, November soybeans are up 2 1/2 cents per bushel. September KC wheat is up 1 1/4 cents per bushel, September Chicago wheat is up 3/4 cent per bushel and September Minneapolis wheat is up 2 1/4 cents. The Dow Jones Industrial Average is up 504.77 points at 40,513.16. The U.S. Dollar Index is up 0.540 at 103.11 and September crude oil is up $0.98 per barrel at $77.96. Corn, wheat and soybeans are little changed and mixed having relinquished early gains. On the bearish side is the potential for record yields in both corn and soybeans, but demand-wise, the U.S. should hold the upper hand in world markets.

Livestock

Posted 11:37 -- October live cattle are down $0.68 at $181.45, September feeder cattle are down $0.03 at $244.325, October lean hogs are up $0.63 at $76.55, December corn is down 1 1/2 cents per bushel and December soybean meal is up $4.10. The Dow Jones Industrial Average is up 517.69 points. Still no bids have surfaced for the cash cattle market as packers and feedlot managers go toe to toe. Asking prices are noted in the South at $187 to $188 but remain unestablished still in the North. Packer interest should improve this afternoon.

Posted 08:34 -- October live cattle are down $0.03 at $182.10, September feeder cattle are up $0.78 at $245.125, October lean hogs are down $0.15 at $75.775, December corn is down 1 cent per bushel and December soybean meal is up $0.60. The Dow Jones Industrial Average is up 426.25 points. Beef net sales of 28,100 mt for 2024 -- a marketing year high -- were up noticeably from the previous week and up 99% from the prior 4-week average. The three largest buyers were South Korea (11,400 mt), Japan (6,300 mt) and China (4,400 mt). Pork net sales of 20,900 mt -- a marketing year low -- were down 40% from the previous week and 30% from the prior 4-week average. The three largest buyers were Japan (8,300 mt), Mexico (3,300 mt) and South Korea (1,900 mt).

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