DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- Posted 12:47 -- July corn is down 3/4 cent per bushel, July soybeans are up 3 3/4 cents, July KC wheat is down 9 cents, July Chicago wheat is down 12 cents and July Minneapolis wheat is down 6 cents. The Dow Jones Industrial Average is down 123.34 points. The U.S. Dollar Index is down 0.420 and June crude oil is down $1.37 per barrel. June gold is up $49.90 per ounce. Just ahead of the Monday close, soybeans and soybean oil have recovered to trade higher, and corn has rallied back 6 to 8 cents above the daily low. Wheat markets are still under heavy selling pressure as beneficial rain is slated to hit the Southern Plains. Funds have been sellers of wheat, corn and soymeal on Monday. There appears to be no good news to report on the U.S-China trade tiff.
Posted 10:35 -- July corn is down 1 3/4 cents per bushel, July soybeans are down 3 cents per bushel. July KC wheat is down 10 1/4 cents per bushel, July Chicago wheat is down 13 1/2 cents per bushel and July Minneapolis wheat is down 8 1/4 cents. The Dow Jones Industrial Average is down 43.12 points at 40,070.38. The U.S. Dollar Index is down 0.170 at 99.30. June crude oil is down $1.22 per barrel at $61.80. At midmorning, wheat remains down hard on incoming rain and corn and soy are still modestly lower but off the lows. Soybean oil has overcome early weakness to trade higher again.
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Posted 08:40 -- July corn is down 7 1/2 cents per bushel, July soybeans are down 5 1/2 cents per bushel. July KC wheat is down 12 3/4 cents per bushel, July Chicago wheat is down 14 3/4 cents per bushel and July Minneapolis wheat is down 10 3/4 cents. The Dow Jones Industrial Average is up 233.52 points at 40,347.02. The U.S. Dollar Index is up 0.020 at 99.49. June crude oil is down $0.11 per barrel at $62.91. At midmorning, KC and Chicago July wheat have fallen to another new low on the wet forecast and corn and soy are sinking on expectations for a solid planting pace and a warmer and drier forecast ahead.
Posted 19:10 Sunday -- July corn is down 3 cents and July soybeans are down 2 1/4 cents. New-crop December corn is down 2 1/4 cents and new-crop November soybeans are down 3 cents. July KC wheat is down 4 1/2 cents, July Chicago wheat is down 2 3/4 cents and July Minneapolis wheat is down 3 1/4 cents. June crude oil is up $0.16 and Dow Jones futures are down 114 points. The U.S. Dollar Index is up 0.19 and June gold is up $15.10. U.S. row crop markets are mostly lower to start the new week. Traders will be watching Monday afternoon update on planting progress from USDA for potential delays stemming from widespread rainfall across the U.S. grain belts, with more forecast for later this week. Any delay at this point won't likely have huge repercussions from a supply concern standpoint but may cause some turbulence in price initially. Otherwise, the markets will continue to be subject to tariff- and trade-related headlines, which provided a boost to old crop prices late last week. However, if the rumors of deals with major U.S. partners aren't substantiated relatively soon, the market could run the risk of some premium removal from prices.
LivestockPosted 11:40 -- June live cattle are up $1.45 at $209.7, August feeder cattle are up $0.88 at $295.175, June lean hogs are down $0.48 at $100.675, pork cutouts are up $2.18 at $98.04, May corn is down 1 1/4 cents per bushel and May soybean meal is down $2.50. The Dow Jones Industrial Average is down 137.65 points and NASDAQ is down 221.09 points. The livestock contracts are continuing to trade higher into Monday's noon hour as the market has more than enough support encouraging stronger trade. New showlists appear to be mixed, higher in Kansas, but lower in Texas and Nebraska/Colorado.
Posted 08:36 -- June live cattle are up $0.73 at $208.975, August feeder cattle are up $1.73 at $296.025, June lean hogs are down $0.03 at $101.125, pork cutout is up $2.18 at $98.04, May corn is down 6 1/2 cents per bushel and May soybean meal is down $3.10. The Dow Jones Industrial Average is up 201.82 points and NASDAQ is up 23.37 points. The feeder cattle market has leapt into Monday's trade -- gapping higher at the day's start and showing tremendous support. But given that last week's fed cash cattle market was $2.00 to $6.00 higher -- the cattle complex remains wildly supported.
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