DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is up 3 1/2 cents and July soybeans are up 5 1/2 cents. December corn is down 1/2 a cent, and November soybeans are up 3 cents. July KC wheat is up 4 1/2 cents, July Chicago wheat is up 7 cents, and MIAX July Minneapolis wheat is up 6 3/4 cents. July crude oil is up $1.14 and Dow Jones futures are up 366 points. The U.S. Dollar Index is up 0.49 and August gold is down $29.80. Heading into the final half hour of trade for the week, U.S. row crops remain firm. Wheat markets specifically have reversed off overnight lows and have accelerated gains after it was reported that Russia retaliated against Ukraine early Friday with a drone bombing strike against the Ukraine capital city of Kyiv. Soybeans continue to show strength on trade optimism, as well as positive influence from the rally in soybean oil futures to close the week.

Posted 10:30 -- July corn is up 4 1/2 cents per bushel, July soybeans are up 6 1/4 cents, July KC wheat is down 2 1/2 cents, July Chicago wheat is up 1/2 cent and MIAX July Minneapolis wheat is up 1/4 cent. The Dow Jones Industrial Average is up 360.01 points. The U.S. Dollar Index is up 0.470 and July crude oil is up $1.12 per barrel. August gold is down $22.70 per ounce. At midmorning, soybeans have recovered to trade higher with the sharp rally in bean oil pulling beans up. In quiet trade, wheat is lower as is December corn. Weather in the U.S. Corn Belt remains favorable into midmonth.

Posted 08:32 -- July corn is down 3 1/2 cents per bushel, July soybeans are down 2 3/4 cents, July KC wheat is down 3 1/4 cents, July Chicago wheat is down 2 cents and July Minneapolis wheat is down 1 1/4 cents. The Dow Jones Industrial Average is up 441.41 points. The U.S. Dollar Index is up 0.560 and July crude oil is up $0.62 per barrel. August gold is down $1.00 per ounce. Corn and soybeans are slightly weaker and wheat is mixed to mostly lower in very quiet trade. Bean oil futures start strong on positive Census data.

Livestock

Posted 11:34 -- August live cattle are up $1.15 at $217.975, August feeder cattle are down $0.35 at $308.8, July lean hogs are up $2.28 at $107.075, July corn is up 4 3/4 cents per bushel and July soybean meal is down $0.80. The Dow Jones Industrial Average is up 391.21 points. Some light live trade has been reported in parts of Nebraska at midday at $242 -- $2 higher than Thursday's deals and $7 greater than the prior week's weighted average. The rest of cattle country remains rather quiet. Beef cutouts are mixed (choice 365.49 -1.36, select 356.71 +0.10) with light to moderate box movement (42 lds of choice cuts, 05 lds of select cuts, 08 lds of trim, and 07 lds of ground), with a choice/select spread of 8.78. Friday's projected cattle slaughter is 101,000, while Saturday's projection is 3,000 head. Pork cutouts at midday are 112.86, +4.74, with 196.48 total loads. Friday's project hog slaughter is 480,000 and Saturday's projection is 18,000 head.

Posted 08:35 -- August live cattle are up $1.08 at $217.9, August feeder cattle are up $0.90 at $310.05, July lean hogs are up $0.60 at $105.4, July corn is down 3 1/4 cents per bushel and July soybean meal is down $2.30. The Dow Jones Industrial Average is up 429.54 points. New contracts highs were set on some live cattle futures Thursday, due in part to more record-breaking high cash cattle sales yesterday. A light cash cattle trade developed in the North late yesterday afternoon with dressed deals at $380, $13 higher than last week's weighted average basis Nebraska. Southern live trade yesterday was at $230 to $232, $8 to $10 higher than the prior week's weighted averages. More trade will likely be reported today, especially in the North. The CME Feeder Index for June 4, 2025, was $1.35 higher at $304.86, the projected CME Lean Hog Index for June 4, 2025, was up $0.82, at $97.57.

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