DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:47 -- July corn is up 1 cent per bushel, July soybeans are up 1 1/4 cents, July KC wheat is up 21 1/2 cents, July Chicago wheat is up 24 1/4 cents and July Minneapolis wheat is up 14 1/2 cents. The Dow Jones Industrial Average is up 128.77 points. The U.S. Dollar Index is down 0.070 and August crude oil is down $0.24 per barrel. August gold is down $1.70 per ounce. Just ahead of the Wednesday close, wheat markets are extending the rally on heavy fund short-covering and corn is very firm as well. Funds are estimated to have bought 10,000 contracts of Chicago wheat and 8,000 corn as of noon. Soybeans and products are staying pretty close to unchanged. Expect volatility to remain high with uncertainty over the direction of the Iran versus Israel conflict. Weather continues to be mostly favorable with an active weather pattern forecast for the next 10 days across the Plains, Midwest and Delta.

Posted 10:34 -- July corn is up 1 1/2 cents and July soybeans are up 3 cents. December corn is up 4 3/4 cents and November soybeans are up 3 1/4 cents. July KC wheat is up 17 cents, July Chicago wheat is up 19 1/4 cents, and July MIAX Minneapolis wheat is up 13 1/4 cents. August crude oil is down $1.32 and Dow Jones futures are up 207 points. The U.S. Dollar Index is down 0.32 and August gold is down $3.70. At midmorning Wednesday, wheat markets are leading the grain complex higher as summer weather trade has seemingly arrived in full force. Traders quickly added premium to wheat prices following this week's storms in the Southern Plains, with more forecast for early next week as well, with the fear being added precipitation will put the harvest further behind pace. Corn and soy markets are higher as well, albeit in a much more reserved trade as compared to wheat. November soybean futures are once again knocking on the door of 2025 highs.

Posted 08:32 -- July corn is up 1/4 cent per bushel, July soybeans are down 2 cents, July KC wheat is up 8 3/4 cents, July Chicago wheat is up 7 3/4 cents and July Minneapolis wheat is steady. The Dow Jones Industrial Average is up 11.87 points. The U.S. Dollar Index is down 0.140 and August crude oil is up $0.88 per barrel. August gold is up $5.80 per ounce. Corn and winter wheat markets are higher while soybeans and products are lower in quiet early trade. Wheat is extending gains based on the late harvest due to more rain in the Southern Plains.

Livestock

Posted 11:22 -- August live cattle are up $0.48 at $211.125, August feeder cattle are up $0.40 at $303.75, August lean hogs are down $0.48 at $111.325, July corn is up 3/4 cent per bushel and July soybean meal is up $0.90. The Dow Jones Industrial Average is up 164.04 points and NASDAQ is up 103.23 points. Still no cash cattle trade has developed and it's looking like the week's trade will be delayed until Thursday or Friday. Asking prices are noted at $235-plus in the South and are still not known in the North.

Posted 08:37 -- August live cattle are up $0.90 at $211.55, August feeder cattle are down $0.15 at $303.2, August lean hogs are up $0.60 at $112.4, July corn is up 1/4 cent per bushel and July soybean meal is down $0.50. The Dow Jones Industrial Average is down 10.30 points and NASDAQ is up 7.55 points. The livestock complex is still trading mixed as traders want to support the contracts and trade the markets higher, but remain cautious from a technical standpoint. Still no cash cattle trade has developed but asking prices are noted in the South at $238 plus.

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