DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- May corn is down 3 cents per bushel, May soybeans are up 4 1/2 cents per bushel. July KC wheat is down 6 3/4 cents per bushel, July Chicago wheat is down 6 cents per bushel and July Minneapolis wheat is down 3 cents. The Dow Jones Industrial Average is up 488.94 points at 39,675.92. The U.S. Dollar Index is up 0.850 at 99.77. June crude oil is down $1.86 per barrel at $61.81. Ahead of the Wednesday close, wheat and corn remain under pressure with soybeans and bean oil up just modestly in quiet trade. Soybeans are firm on the fact that U.S. Gulf beans are offered at a nice discount to Brazil FOB for July-August. Funds have been buyers of soy and sellers of corn for much of the day.
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Posted 10:35 -- May corn is down 2 cents per bushel, May soybeans are up 7 1/4 cents per bushel. July KC wheat is down 3 1/2 cents per bushel, July Chicago wheat is down 4 cents per bushel and July Minneapolis wheat is down 1 1/2 cents. The Dow Jones Industrial Average is up 625.11 points at 39,812.09. The U.S. Dollar Index is up 0.510 at 99.43. June crude oil is down $1.82 per barrel at $61.85. At midmorning, wheat and corn continue to trade lower, with KC spot futures falling to a new low on the prospect for rain in the southern Plains. Soybeans and soy products are just moderately firmer on talk about working a trade deal with China -- only talk at this point.
Posted 08:37 -- May corn is down 3 3/4 cents per bushel, May soybeans are up 3 1/2 cents per bushel. July KC wheat is down 4 1/2 cents per bushel, July Chicago is down 3 3/4 cents per bushel and July Minneapolis wheat is down 1 3/4 cents. The Dow Jones Industrial Average is up 844.71 points at 40,031.69. The U.S. Dollar Index is up 0.220 at 99.14. June crude oil is down $0.60 per barrel at $63.07. Corn and wheat are again under pressure on the prospect for an accelerated planting pace on corn and with much-needed moisture headed for winter wheat areas in the Southern Plains. Soybeans and products are modestly higher on the front end, with November beans little changed.
LivestockPosted 11:40 -- June live cattle are up $2.00 at $204.075, May feeder cattle are up $2.45 at $286.85, June lean hogs are up $0.08 at $98.025, May corn is down 2 cents per bushel and May soybean meal is down $1.10. The Dow Jones Industrial Average is down 527.16 points. Traders have ambitiously supported the cattle contacts again this morning, and thankfully that momentum is sustaining into the afternoon. Still no cash cattle trade has developed.
Posted 08:35 -- June live cattle are up $2.00 at $204.075, May feeder cattle are up $2.45 at $286.85, June lean hogs are up $0.08 at $98.025, May corn is down 2 cents per bushel and May soybean meal is down $1.10. The Dow Jones Industrial Average is down 527.16 points. The livestock complex is off to another strong start and it's rather impressive to see the spot August contract facing off with its resistance threshold at $293.00; but the spot June live cattle contract has already surpassed its previous resistance threshold -- showing more than enough trader support to get the day rolling.
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