DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:43 -- July corn is down 3 3/4 cents per bushel, July soybeans are steady, July KC wheat is down 6 1/2 cents, July Chicago wheat is up 1/2 cent and July Minneapolis wheat is down 4 1/4 cents. The Dow Jones Industrial Average is up 300.98 points. The U.S. Dollar Index is up 0.350 and June crude oil is down $0.74 per barrel. June gold is down $29.90 per ounce. Heading into the Wednesday close, the initial euphoria from the announced meeting with China on trade has mostly dissipated with corn and wheat lower and soybeans about to go into the red. Near perfect planting weather and rain moving through Kansas are pressuring markets. Last week's ethanol production slipped to 1.020 million barrels per day but is still 6% higher than last year.

Posted 10:35 -- July corn is down 3 cents per bushel, July soybeans are up 1 1/4 cents, July KC wheat is down 7 1/4 cents, July Chicago wheat is down 1/4 cent and July Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average is up 209.11 points. The U.S. Dollar Index is up 0.280 and June crude oil is down $0.59 per barrel. June gold is down $29.00 per ounce. At mid-morning, wheat is mixed to lower, old crop corn futures weaker and the soy complex is firmer, though well below the highs. News that the U.S. and China will finally meet to discuss trade is viewed as positive for soy.

Posted 08:37 -- July corn is up 5 1/4 cents and July soybeans are up 9 1/2 cents. December corn is up 4 cents and November soybeans are up 11 cents. July KC wheat is down 3 1/4 cents, July Chicago wheat is up 1 3/4 cents, and July Minneapolis wheat is down 2 cents. June crude oil is down $0.29 and Dow Jones futures are up 170 points. The U.S. Dollar Index is up 0.20 and June gold is down $29.40. The U.S. and China will begin trade negotiations later this week as officials from the U.S., including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, are set to meet with Chinese officials in Geneva on Thursday. This has given a boost to corn and soy markets, both of which were also nearing key chart support. Wheat markets, however, are thus far unable to join the rally, trading lower on the opening of the day session.

Livestock

Posted 11:26 -- June live cattle are down $1.83 at $211.85, August feeder cattle are down $2.28 at $296.925, June lean hogs are down $0.05 at $97.525, May corn is down 3 1/4 cents per bushel and May soybean meal is up $3.00. The Dow Jones Industrial Average is up 269.28 points and NASDAQ is down 63.52 points. There have been a handful of cattle sold in Texas on Wednesday morning at $219, but otherwise the cash cattle market remains silent. Feedlot managers who have yet to market their showlists seem content waiting until the week's end to see what bids are going to surface.

Posted 08:41 -- June live cattle are down $0.25 at $213.425, August feeder cattle are steady, June lean hogs are up $0.08 at $97.65, May corn is up 5 3/4 cents per bushel and May soybean meal is up $1.10. The Dow Jones Industrial Average is up 176.81 points and NASDAQ is up 10.29 points. Following the light trade that developed on Tuesday, the cash cattle market is quiet at Wednesday's start. Asking prices remain firm in the South at $220 plus but are still not established in the North.

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