DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Posted 12:46 -- July corn is up 1 1/4 cents per bushel, July soybeans are down 3 1/2 cents, July KC wheat is up 4 1/4 cents, July Chicago wheat is up 5 cents and July Minneapolis wheat is up 1 cent. The Dow Jones Industrial Average is down 403.53 points. The U.S. Dollar Index is down 0.530 and June crude oil is up $2.11 per barrel. June gold is up $101.20 per ounce. Heading into the Tuesday close, soybeans and soy products remain weak with bean oil leading the way down on uncertainty surrounding the biofuel policy. Wheat markets show a modest gain after testing contract lows in the past few days. Weather continues to be conducive to accelerated planting over the next 10 days.

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Posted 10:32 -- July corn is up 1 3/4 cents per bushel, July soybeans are down 5 1/2 cents, July KC wheat is up 5 1/2 cents, July Chicago wheat is up 7 1/4 cents and July Minneapolis wheat is up 1/2 cent. The Dow Jones Industrial Average is down 160.67 points. The U.S. Dollar Index is down 0.410 and June crude oil is up $2.39 per barrel. June gold is up $83.20 per ounce. At midmorning, soybeans and bean oil are under pressure while all three wheat markets are attempting a rally. Much of the crop progress data was bearish on Monday.

Posted 08:32 -- July corn is up 1/2 cent per bushel, July soybeans are down 6 1/4 cents, July KC wheat is steady, July Chicago wheat is up 2 1/4 cents and July Minneapolis wheat is down 2 1/4 cents. The Dow Jones Industrial Average is down 285.04 points. The U.S. Dollar Index is down 0.370 and June crude oil is up $2.01 per barrel. June gold is up $81.50 per ounce. Corn, soybeans and wheat are off to a mixed and quiet start. Monday's crop progress report showed a corn and soy planting pace ahead of normal with a warm- and dry-period ahead, and wheat conditions are improving following recent rain.

Livestock

Posted 11:46 -- June live cattle are up $0.15 at $213.8, August feeder cattle are up $0.35 at $299.25, June lean hogs are down $1.68 at $97.325, May corn is down 1 cent per bushel and May soybean meal is down $2.70. The Dow Jones Industrial Average is down 203.38 points and NASDAQ is down 89.17 points. Some light cash cattle trade has developed in the South at $218 to $220, which is steady to $2.00 higher than last week's weighted average. No trade has developed yet in the North and asking prices there remain unknown.

Posted 08:37 -- June live cattle are down $0.48 at $213.175, August feeder cattle are down $0.58 at $298.325, June lean hogs are down $0.83 at $98.175, May corn is up 1 3/4 cents per bushel and May soybean meal is down $0.60. The Dow Jones Industrial Average is down 289.55 points and NASDAQ is down 211.37 points. The livestock complex is off to a weaker start as traders are hesitant to overly support the contracts ahead of seeing what's going to develop this week fundamentally. No bids or asking prices are noted yet.

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