DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- Posted 12:44 -- July corn is down 7 1/4 cents per bushel, July soybeans are up 1 1/4 cents, July KC wheat is down 10 1/2 cents, July Chicago wheat is down 11 1/2 cents and July Minneapolis wheat is down 11 3/4 cents. The Dow Jones Industrial Average is up 96.62 points. The U.S. Dollar Index is down 0.250 and July crude oil is up $0.44 per barrel. August gold is up $9.90 per ounce. Nearing the Monday close, corn and wheat remain under heavy selling pressure while soybeans and products in spot months are mixed to slightly lower and new-crop November beans are a nickel lower. Favorable weather with a good mix of rain and sun looks to improve crop conditions even more.
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Posted 10:37 -- July corn is down 6 1/2 cents per bushel, July soybeans are down 1 1/4 cents, July KC wheat is down 10 3/4 cents, July Chicago wheat is down 11 1/4 cents and July Minneapolis wheat is down 10 1/2 cents. The Dow Jones Industrial Average is down 66.12 points. The U.S. Dollar Index is down 0.220 and July crude oil is up $0.41 per barrel. August gold is up $2.90 per ounce. At mid-morning, wheat and corn are extending losses with soybeans and bean oil having reversed early strength to trade lower. The prospect for Monday's crop progress report to show improved corn, wheat and soybean conditions and non-threatening weather ahead is weighing on values.
Posted 08:37 -- July corn is down 3 3/4 cents and July soybeans are down 1/4 cents. December corn is down 6 1/2 cents and November soybeans are down 2 cents. July KC wheat is down 11 1/4 cents, July Chicago wheat is down 11 3/4 cents, and MIAX July Minneapolis wheat is down 9 cents. July crude oil is up $0.08 and Dow Jones futures are up 3 points. The U.S. Dollar Index is down 0.02 and August gold is down $11.40. Grain markets are correcting to begin the week, with corn futures on pace to snap a 4-day rally as near-term weather still looks friendly to development. Meanwhile, wheat futures are leading the way lower on profit-taking as recent rainfall has greatly reduced drought in hard red areas and conditions in many spring wheat areas have improved as well in the U.S.
Posted 19:07 Sunday -- July corn is down 1 cents and July soybeans are down 3 cents. December corn is down 1 3/4 cents and November soybeans are down 2 1/2 cents. July KC wheat is down 2 3/4 cents, July Chicago wheat is down 1 1/4 cents and July Minneapolis wheat is down 2 1/4 cents. July crude oil is up $0.01 and Dow Jones futures are down 12 points. The U.S. Dollar Index is down 0.10 and August gold is down $9.30. Grain markets are softer to begin the new week. U.S. and Chinese officials are set to meet in London for the latest round of trade negotiations on Monday, the latest in positive steps following the conversation between Presidents Trump and Xi last Thursday. Meanwhile, tensions between Ukraine and Russia continue to escalate following both sides trading blows in the past week, the fear in the wheat market is that key Black Sea port infrastructure areas may be targeted or damaged. Weather and crop conditions will also take center stage in dictating the extent of the recent rallies in U.S. row crop markets, with Monday's Crop Progress report from the USDA setting the tone for the week.
LivestockPosted 11:44 -- August live cattle are up $0.20 at $219.075, August feeder cattle are up $0.18 at $310.325, July lean hogs are up $0.03 at $107.125, July corn is down 5 1/2 cents per bushel and July soybean meal is up $0.10. The Dow Jones Industrial Average is down 4.08 points and NASDAQ is up 73.44 points. The livestock contracts are trading mostly higher into Monday's noon hour as traders remain hopeful that fundamental support will remain strong again this week. New showlists appear to be mixed, higher in Texas, somewhat higher in Nebraska/Colorado, but lower in Kansas.
Posted 08:38 -- August live cattle are up $0.10 at $218.975, August feeder cattle are up $0.23 at $310.375, July lean hogs are down $0.43 at $106.675, July corn is down 3 cents per bushel and July soybean meal is down $1.00. The Dow Jones Industrial Average is down 80.41 points and NASDAQ is up 24.06 points. Following last week's powerful cash cattle trade, traders are again supporting the cattle contracts amid such tremendous fundamental support. Meanwhile the lean hog complex is trading lower as resistance pressure is too much to bear this morning.
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