DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:44 -- September corn is down 2 cents per bushel, November soybeans are up 2 cents, September KC wheat is up 2 1/2 cents, September Chicago wheat is up 8 3/4 cents and September Minneapolis wheat is up 5 3/4 cents. The Dow Jones Industrial Average is up 457.85 points. The U.S. Dollar Index is down 0.050 and August crude oil is up $0.33 per barrel. August gold is up $43.10 per ounce. Corn and soymeal remain negative, though above morning lows. Funds are estimated to have sold 5,000 corn, 4,000 beans and close to 6,000 soymeal. Soymeal fell to a new contract low and the lowest level in nine years. All three wheat markets are higher, led by Chicago.

Posted 10:27 -- September corn is down 2 1/4 cents per bushel, November soybeans are down 1 1/4 cents, September KC wheat is up 2 1/2 cents, September Chicago wheat is up 8 3/4 cents and September Minneapolis wheat is up 1/2. The Dow Jones Industrial Average is up 421.82 points. The U.S. Dollar Index is up 0.010 and August crude oil is up $0.30 per barrel. August gold is up $43.20 per ounce. After plunging to a new low, corn has worked its way back up as have November beans. Wheat is mixed with Chicago and KC both higher. Weather remains near ideal for U.S. row crops at least to mid-July.

Posted 08:36 -- September corn is down 8 1/4 cents per bushel, November soybeans are down 11 1/4 cents, September KC wheat is up 2 cents, September Chicago wheat is up 5 1/4 cents and September Minneapolis wheat is down 3 1/2. The Dow Jones Industrial Average is down 3.97 points. The U.S. Dollar Index is down 0.210 and August crude oil is up $0.33 per barrel. August gold is up $54.80 per ounce. December corn plunges to another new contract along with soybean meal. Soybean futures are also down hard. Favorable weather and the neutral to slightly bearish stocks report are combining to pummel markets. Wheat is mixed to mostly firmer but has fallen for 6 of the past 7 days.

Livestock

Posted 11:39 -- August live cattle are down $2.80 at $211.075, August feeder cattle are down $5.08 at $305.6, August lean hogs are down $0.68 at $106.825, July corn is down 2 cents per bushel and July soybean meal is down $2.20. The Dow Jones Industrial Average is up 438.60 points and NASDAQ is down 153.55 points. The cattle contracts are trading lower into Tuesday's noon hour as the market continues to react negatively to the USDA's announcement that Mexican cattle imports are going to resume as early as July 5. No cash cattle trade has developed at this point but asking prices are noted in the South at $225 plus.

Posted 08:38 -- August live cattle are down $1.23 at $212.65, August feeder cattle are down $3.53 at $307.15, August lean hogs are down $0.60 at $106.9, July corn is down 4 1/4 cents per bushel and July soybean meal is down $2.30. The Dow Jones Industrial Average is down 30.25 points and the NASDAQ is down 78.18 points. The cattle complex is trading sharply lower at Tuesday's start, as USDA shared late Monday afternoon that cattle, bison and horses would again be allowed to be imported into the U.S. from Mexico starting as early as June 7. The announcement obviously has affected the feeder cattle complex the most, as cattlemen and traders alike realize that more feeder cattle imports could soften domestic prices.

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