DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- Posted 12:46 -- July corn is up 2 cents per bushel, July soybeans are down 2 1/4 cents, July KC wheat is up 5 1/4 cents, July Chicago wheat is up 2 1/2 cents and MIAX July Minneapolis wheat is up 11 1/2 cents. The Dow Jones Industrial Average is up 130.83 points. The U.S. Dollar Index is down 0.640 and July crude oil is down $0.21 per barrel. June gold is up $43.40 per ounce. At midday, soybeans and soymeal have gone negative while corn, wheat and bean oil are maintaining modest gains. The forecast ahead promises a steady flow of moisture for the next two weeks for the central U.S., but corn planting is expected to be in the 75% to 80% completion range on Monday's crop progress report.
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Posted 10:31 -- July corn is up 1 3/4 cents per bushel, July soybeans are up 1/4 cent, July KC wheat is up 6 cents, July Chicago wheat is up 2 3/4 cents and MIAX July Minneapolis wheat is up 7 cents. The Dow Jones Industrial Average is down 68.95 points. The U.S. Dollar Index is down 0.830 and July crude oil is up $0.01 per barrel. June gold is up $50.90 per ounce. At midmorning in slow trade, little has changed with all grain and soy markets still moderately higher except for bean meal. KC wheat is leading the bounce.
Posted 08:31 -- July corn is up 4 1/2 cents per bushel, July soybeans are up 1 cent, July KC wheat is up 9 3/4 cents, July Chicago wheat is up 7 1/4 cents and July Minneapolis wheat is up 6 1/4 cents. The Dow Jones Industrial Average is down 300.06 points. The U.S. Dollar Index is down 0.810 and July crude oil is down $0.20 per barrel. June gold is up $47.10 per ounce. USDA: Private exporters reported sales of 145,000 metric tons of soybean cake and meal for delivery to the Philippines during the 2024-25 marketing year. Grain and soy markets, with the exception of soymeal, are firmer to start the week, led by wheat.
Posted 19:08 Sunday -- July corn is up 3/4 cents and July soybeans are up 1 1/2 cents. December corn is unchanged, and November soybeans are up 1 1/4 cent. July KC wheat is up 1 1/2 cents, July Chicago wheat is up 2 cents, and July Minneapolis wheat is up 2 1/2 cents. July crude oil is down $0.02 and Dow Jones futures are down 272 points. The U.S. Dollar Index is down 0.37 and June gold is up $50.40. Grain markets are quietly mixed to open the new trading week following choppy price action last week, especially in the soybean complex. Gains were made following the bullish round of USDA estimates, then erased by the weekend amid a sharp correction lower in soybean oil prices due to emerging concerns regarding biofuel support/mandates on the political level. Weather will again be the primary price driver as spring planting approaches completion and U.S. winter wheat also enters the home stretch of development over the next handful of weeks.
LivestockPosted 11:35 -- June live cattle are up $1.00 at $213.225, August feeder cattle are up $0.80 at $298.4, June lean hogs are down $0.93 at $99.4, July corn is up 1 cent per bushel and July soybean meal is down $0.30. The Dow Jones Industrial Average is up 69.65 points and NASDAQ is down 54.03 points. With the support of stronger midday boxed beef prices, the cattle contracts are trading higher into Monday's noon hour. Meanwhile the market's resistance pressure is too much for the nearby lean hog contracts to bear.
Posted 08:36 -- June live cattle are up $0.55 at $212.775, August feeder cattle are up $0.28 at $297.875, June lean hogs are down $0.85 at $99.475, July corn is up 4 1/4 cents per bushel and July soybean meal is down $0.40. The Dow Jones Industrial Average is down 286.87 points and NASDAQ is down 249.85 points. The cattle complex is off to a stronger start for the week as traders are hopeful that fundamental support will be ample this week and that contracts may find technical stability again. Prices this week in the fed cash cattle market will likely be determined by how many cattle packers were able to get bought with time last week.
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