DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:54 -- July corn is up 4 1/2 cents per bushel, July soybeans are up 24 1/2 cents, July KC wheat is up 16 1/4 cents, July Chicago wheat is up 16 1/4 cents and July Minneapolis wheat is up 11 3/4 cents. The Dow Jones Industrial Average is down 594.07 points. The U.S. Dollar Index is up 0.220 and July crude oil is up $5.04 per barrel. August gold is up $46.40 per ounce. Ahead of the Friday close, soybean oil remains limit bid and soybeans are up sharply with funds having bought an estimated 30,000 contracts combined in those two markets. The big news is the Trump administration EPA proposed biofuel policy which is clearly bullish soybean oil and crush rates. Wheat is along for the ride as very short funds are forced to cover shorts. Corn is moderately higher and funds have bought corn as well.

Posted 10:27 -- July corn is up 2 cents per bushel, July soybeans are up 21 cents, July KC wheat is up 11 3/4 cents, July Chicago wheat is up 12 1/4 cents and MIAX July Minneapolis wheat is up 8 1/4 cents. The Dow Jones Industrial Average is down 472.01 points. The U.S. Dollar Index is up 0.160 and July crude oil is up $4.18 per barrel. August gold is up $46.30 per ounce. At midmorning the big news is EPA came out with a new biodiesel blending proposal and it requires that for 2026-27 15 billion gallons of conventional biofuels be used in the U.S.' fuel blend. This is far higher than many had predicted, leading to a limit-up move in soybean oil, with soybeans along for the ride. Wheat markets are also sharply higher.

Posted 08:39 -- July corn is steady, July soybeans are up 17 3/4 cents, July KC wheat is up 7 3/4 cents, July Chicago wheat is up 9 3/4 cents and MIAX July Minneapolis wheat is up 4 3/4 cents. The Dow Jones Industrial Average is down 472.22 points. The U.S. Dollar Index is up 0.480 and July crude oil is up $5.07 per barrel. August gold is up $64.50 per ounce. Soybean oil and soybeans are soaring early. If there was an RVO announcement, I am not aware of it, but I suspect that the market is anticipating that. Wheat is very firm but corn and soymeal are lower.

Livestock

Posted 11:32 -- August live cattle are down $2.78 at $214.175, August feeder cattle are down $2.48 at $308.775, July lean hogs are up $0.30 at $109.2, July corn is up 4 1/4 cents per bushel and July soybean meal is down $1.90. The Dow Jones Industrial Average is down 450.60 points and NASDAQ is down 86.63 points. There's been a few more cattle traded in the North at $242, which is steady with last week's weighted average. At this point it's likely the bulk of this week's trade is done. Asking prices for cattle left on showlists are around $236 to $238 in the South and $382 in the North.

Posted 08:36 -- August live cattle are down $1.30 at $215.65, August feeder cattle are down $1.90 at $309.35, July lean hogs are down $0.10 at $108.8, July corn is down 1 1/2 cents per bushel and July soybean meal is down $2.40. The Dow Jones Industrial Average is down 406.38 points and NASDAQ is down 152.62 points. No new cash cattle bids are currently on the table following the trade that's developed earlier this week. Asking prices for cattle left on showlists are around $236 to $238 in the South, and $382 in the North. So far this week, Southern live cattle have traded at $235 ($4.00 to $5.00 higher) and Northern dressed cattle have traded at mostly $380 (steady with last week's weighted average).

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