DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:47 -- July corn is down 3 1/4 cents per bushel, July soybeans are up 5 cents, July KC wheat is up 13 1/4 cents, July Chicago wheat is up 12 1/2 cents and July Minneapolis wheat is up 14 1/2 cents. The Dow Jones Industrial Average is up 575.65 points. The U.S. Dollar Index is down 0.260 and June crude oil is down $1.02 per barrel. June gold is up $14.40 per ounce. Going into the Friday close, nearby corn futures and bean oil continue to trade lower, while soybeans, meal and wheat are higher. Estimates for the coming Crop Progress report is that corn could be over 35% planted and soybeans more like 25% to 27%.

Posted 10:35 -- July corn is down 2 cents per bushel, July soybeans are up 5 cents, July KC wheat is up 12 1/4 cents, July Chicago wheat is up 10 1/2 cents and July Minneapolis wheat is up 10 1/4 cents. The Dow Jones Industrial Average is up 390.65 points. The U.S. Dollar Index is down 0.540 and June crude oil is down $1.04 per barrel. June gold is up $27.50 per ounce. Nearby corn futures have retreated while soybeans, soymeal and wheat continue to show solid gains. Bean oil futures are extending weakness with the fall in palm and crude oil and the sharply lower biofuel production reported Thursday.

Posted 08:31 -- July corn is up 3 1/4 cents per bushel, July soybeans are up 4 cents, July KC wheat is up 13 cents, July Chicago wheat is up 13 1/2 cents and July Minneapolis wheat is up 10 1/2 cents. The Dow Jones Industrial Average is up 494.77 points. The U.S. Dollar Index is down 0.610 and June crude oil is down $0.19 per barrel. June gold is up $39.10 per ounce. Corn, beans and especially wheat are higher early Friday with wheat correcting from an oversold condition. Bean oil is slightly lower along with crude and palm oil weakness. It's risk-on in equities after the jobs number was more favorable than expected.

Livestock

Posted 11:36 -- June live cattle are up $2.03 at $211.675, August feeder cattle are up $3.25 at $297.7, June lean hogs are up $1.35 at $99.525, May corn is down 1 1/2 cents per bushel and May soybean meal is up $5.00. The Dow Jones Industrial Average is up 612.46 points and NASDAQ is up 307.80 points. It's another prosperous day for the livestock complex as all three of the markets are trading higher into Friday's noon hour. No more cash cattle trade has developed at this point and largely it's likely the bulk of this week's trade is done -- although some clean-up sales may still develop in the South.

Posted 08:37 -- June live cattle are up $0.08 at $209.725, August feeder cattle are up $0.70 at $295.15, June lean hogs are down $0.08 at $98.1, May corn is up 4 1/4 cents per bushel and May soybean meal is up $2.80. The Dow Jones Industrial Average is up 479.64 points and NASDAQ is up 181.14 points. The cattle contracts are continuing to trade higher as traders pay the cash cattle market the respect it deserves. Meanwhile the lean hog complex is back to trading lower as the contracts aren't confident that enough support is arising from the market's fundamentals.

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