DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:51 -- July corn is up 1/4 cent per bushel, November soybeans are down 1 cent, September KC wheat is down 5 1/4 cents, September Chicago wheat is down 7 cents and September Minneapolis wheat is down 3 1/4 cents. The Dow Jones Industrial Average is up 361.18 points. The U.S. Dollar Index is down 0.570 and August crude oil is up $0.70 per barrel. August gold is up $6.00 per ounce. Except for bean oil, grain and soy markets continue on a downward path -- although in corn and soy the pace of selling has slowed. Wheat, on the other hand, is down hard for the fifth straight day. Soymeal has fallen to yet another new low and will close lower for the eighth time in the last 9 days. The 10-day forecast for the Corn Belt remains favorable with rain and above-normal temperatures.

Posted 10:37 -- July corn is down 1 cent per bushel, November soybeans are down 2 1/2 cents, September KC wheat is down 3 cents, September Chicago wheat is down 4 1/2 cents and September Minneapolis wheat is down 7 1/4 cents. The Dow Jones Industrial Average is up 298.64 points. The U.S. Dollar Index is down 0.440 and August crude oil is up $1.33 per barrel. August gold is down $8.90 per ounce. The bearish train goes on uninterrupted with corn, beans, soymeal and wheat lower again. Soybean meal has again fallen to a new low. Wheat and soybeans are headed for a fifth straight decline. Make it six in a row for soymeal. Favorable weather is set to extend into mid-July and large South American crops will have the edge on exports.

Posted 08:32 -- July corn is up 1/4 cent per bushel, November soybeans are up 3/4 cent, September KC wheat is down 2 1/2 cents, September Chicago wheat is down 2 1/2 cents and September Minneapolis wheat is down 6 1/2 cents. The Dow Jones Industrial Average is up 173.39 points. The U.S. Dollar Index is down 0.470 and August crude oil is up $0.62 per barrel. August gold is down $8.90 per ounce. USDA: private exporters reported sales of 110,000 mt (4 mb) of soybeans for delivery to Egypt during the 2024-25 marketing year. Soybeans and bean oil are a bit firmer, corn near unchanged and wheat markets are down for the fifth consecutive day.

Livestock

Posted 11:38 -- August live cattle are up $0.15 at $209.125, August feeder cattle are up $0.65 at $302.95, August lean hogs are down $0.80 at $110.425, July corn is up 3/4 cent per bushel and July soybean meal is down $4.20. The Dow Jones Industrial Average is up 352.25 points. We are hearing the JBS plant in Grand Island, Nebraska, will have limited production today to due massive rains causing flooding and ongoing lagoon issues. The Amarillo, Texas, plant is also reported to be dark today and Friday due to labor issues, as workers vote on whether they will strike or not, their demands mostly center around wages and more time off.

A few bids are now on the table in parts of Nebraska ($365) and Texas ($222), but so far, they are being passed. Current asking prices are around $228 to $230 in the South, and $376-plus in the North. Beef cutouts are mixed at midday (choice 394.37 -0.57, select 378.56 +2.27) with light to moderate box movement (40 lds of choice cuts, 09 lds of select cuts, 04 lds of trim, and 08 lds of ground), with a choice/select spread of 15.81. Thursday's projected cattle slaughter is 114,000. Pork cutouts at midday are 120.70, -1.11, with 99.01 total loads. Thursday's project hog slaughter is 478,000.

Posted 08:36 -- August live cattle are down $0.03 at $208.95, August feeder cattle are up $0.85 at $303.15, August lean hogs are down $0.03 at $111.2, July corn is up 1/2 cent per bushel and July soybean meal is down $2.50. The Dow Jones Industrial Average is up 169.50 points. Cash cattle country is slow to start this morning, but packer inquiry should start to improve at some point today. Some asking prices in parts of the South are noted around $228 to $230. For the period of June 13 to June 19, the Export Sales Highlights report has beef net sales of 14,100 MT for 2025 were up 20 percent from the previous week and 11 percent from the prior 4-week average. The top three increases were primarily for Japan (6,800 MT), South Korea (3,000 MT), Taiwan (1,100 MT,). Exports of 12,600 MT were down 7 percent from the previous week and 3 percent from the prior 4-week average. The top three destinations were primarily to South Korea (3,800 MT), Japan (3,400 MT), Taiwan (1,400 MT). The CME Feeder Index for June 24, was $0.27 higher at $310.60, the projected CME Lean Hog Index for June 24, was up $0.98, at $111.41.

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