DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:53 -- July corn is down 9 cents per bushel, July soybeans are down 9 3/4 cents, September KC wheat is down 13 1/4 cents, September Chicago wheat is down 13 1/2 cents and MIAX September Minneapolis wheat is down 14 cents. The Dow Jones Industrial Average is up 267.70 points. The U.S. Dollar Index is down 0.270 and August crude oil is down $4.36 per barrel. August gold is up $12.10 per ounce. Favorable weather, improving crop conditions and weaker world wheat values are leading to selling of grain and soy futures. Funds are estimated to have sold 6,000 wheat, 9,000 corn and 5,000 bean contracts today. July corn slipped to a new contract low. Iran has apparently sent six missiles toward the U.S. base in Qatar, but all are reported to have been intercepted.

Posted 10:36 -- July corn is down 11 cents per bushel, July soybeans are down 10 1/4 cents, September KC wheat is down 13 cents, September Chicago wheat is down 16 cents and September Minneapolis wheat is down 8 1/4 cents. The Dow Jones Industrial Average is up 52.72 points. The U.S. Dollar Index is down 0.130 and August crude oil is down $0.66 per barrel. August gold is up $20.10 per ounce. At midmorning, it is a bright red quote day with grain and soy markets in total meltdown mode. Favorable weather, improving crop conditions and slowing demand are pressuring all of the markets. Bean oil has done a 180 and is now trading lower as crude oil has reversed early strength.

Posted 08:40 -- July corn is down 5 1/4 cents per bushel, July soybeans are down 5 1/2 cents, September KC wheat is down 6 3/4 cents, September Chicago wheat is down 8 1/4 cents and September Minneapolis wheat is down 4 1/2 cents. The Dow Jones Industrial Average is up 52.20 points. The U.S. Dollar Index is up 0.420 and August crude oil is down $0.20 per barrel. August gold is up $6.90 per ounce. Grain and soy markets are under heavy pressure to start the week. Weather is forecast to be favorable into the first week of July and crop ratings on Monday are expected to improve. So far, weekend developments in Iran have had little impact on markets but expect volatility to remain high as the trade awaits an Iranian response.

Posted 19:10 Sunday -- July corn is down 1/2 cents and July soybeans are up 2 1/4 cents. December corn is up 1 1/4 cents and November soybeans are up 3 cents. July KC wheat is up 1/2 cents, July Chicago wheat is up 3/4 cents, and July MIAX Minneapolis wheat is down 1 1/4 cents. August crude oil is up $2.00 and Dow Jones futures are down 161 points. The U.S. Dollar Index is up 0.23 and August gold is up $4.30. Row crop futures are mixed to begin the new week. Weather remains mostly friendly to growing spring planted crops, with the exception of a burst of severe weather across North Dakota on Friday night, but so far into the trade MIAX Minneapolis spring wheat futures are not pricing in any significant damage, so time will tell on that. Traders will again be interested in what the USDA has to say regarding crop conditions on Monday afternoon to set the tone for the week. Otherwise, energy markets will be a must watch this week following the U.S. strikes against Iran's nuclear infrastructure on Saturday. So far NYMEX crude oil futures are slightly higher to begin the week but less than most expectations that I had read through the weekend's events.

Livestock

Posted 11:44 -- August live cattle are down $1.13 at $208.7, August feeder cattle are down $0.30 at $302.15, August lean hogs are down $0.05 at $112.4, July corn is down 9 1/2 cents per bushel and July soybean meal is down $2.30. The Dow Jones Industrial Average is down 177.57 points and NASDAQ is down 62.84 points. The livestock complex is trading mixed into Monday's noon hour as the cattle contracts remain cautious but the hog complex continues to rally. No bids or asking prices have been noted yet, and no trade in the fed cash cattle market is expected to develop until later in the week.

Posted 08:40 -- August live cattle are up $0.53 at $210.35, August feeder cattle are up $0.75 at $303.2, August lean hogs are up $0.13 at $112.575, July corn is down 6 cents per bushel and July soybean meal is down $1.80. The Dow Jones Industrial Average is down 0.45 points and NASDAQ is down 37.67 points. The livestock complex is trading mostly higher at Monday's start as traders continue to hope that fundamental support will lend the futures complex some strength. It's appearing as though traders are taking Friday's bullish Cattle on Feed report to heart as they'll willingly supporting the contracts following last week's downward push.

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