DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is up 8 cents per bushel, November soybeans are up 12 1/2 cents, September KC wheat is up 1 3/4 cents, September Chicago wheat is up 5 1/2 cents and MIAX September Minneapolis wheat is up 3 1/4 cents. Markets are all staging a nice recovery after a rough week, with traders positioning ahead of USDA Monday's Acreage and Stocks reports.

Posted 10:30 -- September corn is up 3 1/4 cents and August soybeans are up 5 1/4 cents. December corn is up 2 1/2 cents, and November soybeans are up 7 3/4 cents. September KC wheat is down 1 1/4 cent, September Chicago wheat is up 2 1/4 cents, and September MIAX Minneapolis wheat is up 1 1/2 cents. August crude oil is up $0.64 and Dow Jones futures are up 380 points. The U.S. Dollar Index is up 0.128 and August gold is down $62.90. Row crops continue benefiting from short covering ahead of the weekend. Traders are also squaring positions ahead of Monday's Acreage and Stocks reports due out from USDA. Financial markets are positive on news that the U.S. and China signed a trade agreement regarding rare earths and other technology, with the S&P setting new record highs.

Posted 08:37 -- September corn is up 5 1/4 cents and August soybeans are up 3/4 cents. December corn is up 5 cents, and November soybeans are up 3 cents. September KC wheat is up 5 cents, September Chicago wheat is up 5 1/4 cents, and September MIAX Minneapolis wheat is up 9 1/2 cents. August crude oil is up $0.73 and Dow Jones futures are up 153 points. The U.S. Dollar Index is up 0.09 and August gold is down $76.60. Row crops are benefitting from short-covering ahead of the weekend. Traders are also squaring positions ahead of Monday's Acreage and Stocks reports due out from USDA. Financial markets are positive on news that the U.S. and China signed a trade agreement regarding rare earths and other technology, with the S&P closing in on new record highs.

Livestock

Posted 11:33 -- August live cattle are up $3.10 at $212.3, August feeder cattle are up $3.58 at $306.875, August lean hogs are down $0.05 at $110.2, July corn is up 5 3/4 cents per bushel and July soybean meal is up $0.60. The Dow Jones Industrial Average is up 561.85 points. A light trade is being reported in parts of the North at midday with dressed deals marked at $368, steady with Thursday's late-afternoon business, but $9 less than the prior week's weighted average, basis Nebraska. The South remains rather quiet. In other news, a vote was made by the union at the Tyson Foods facility in Amarillo, Texas, and they have decided to strike. This plant has a daily slaughter capacity of 5,500 head. Beef cutouts are higher at midday (choice 396.19 +1.14, select 382.26 +2.52) with light to moderate box movement (34 lds of choice cuts, 08 lds of select cuts, 11 lds of trim, and 07 lds of ground), with a choice/select spread of 13.92. Friday's projected cattle slaughter is 107,000, while Saturday's projection is 14,000 head. Pork cutouts at midday are 123.86, +4.21, with 190.89 total loads. Friday's project hog slaughter is 471,000 and Saturday's projection is 53,000 head.

Posted 08:38 -- August live cattle are down $0.20 at $209., August feeder cattle are up $0.15 at $303.45, August lean hogs are down $1.43 at $108.825, July corn is up 5 1/4 cents per bushel and July soybean meal is down $0.60. The Dow Jones Industrial Average is up 172.24 points. Cash cattle country is quiet this morning following a light trade yesterday afternoon. Northern dressed business was done at mostly $368, $9 lower than last week's weighted average, basis Nebraska, while Southern live deals were marked at $224 to $225, $4 to $5 lower than last week's weighted averages. We will likely see more transactions take place today. The CME Feeder Index for June 26, was $0.79 higher at $311.39, the projected CME Lean Hog Index for June 26, was up $0.48, at $111.89.

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