DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Heading into the close, December corn is down 4 1/4 cents per bushel, November soybeans are down 5 1/4 cents, September KC wheat is down 8 3/4 cents, September Chicago wheat is down 7 3/4 cents and MIAX September Minneapolis wheat is down 0.1150 cents. The Dow Jones Industrial Average is down 291.26 points. The U.S. Dollar Index is up 0.160 and August crude oil is up $1.88 per barrel. August gold is up $40.40 per ounce. The wheat markets didn't like the USDA report today raising all wheat yield by 1 bpa to 52.6 bpa. Corn and soybean estimates were actually close to what the trade had expected, with the report not showing any surprises there. Crude oil is having a good day due in part to the International Energy Agency in their latest monthly oil market report published this morning indicating a tighter-than-expected crude oil market in the near term.

Posted 10:28 -- December corn is down 1 cent per bushel, November soybeans are down 1/2 cent, September KC wheat is down 7 1/2 cents, September Chicago wheat is down 3 cents and MIAX September Minneapolis wheat is down 0.0100 cents. The Dow Jones Industrial Average is down 318.97 points. The U.S. Dollar Index is up 0.180 and August crude oil is up $1.87 per barrel. August gold is up $54.80 per ounce. Soybean market is lower in spite of fresh export business announced this morning, but soybean oil is higher. Grain markets are still lower ahead of the USDA report this morning at 11:00 CDT.

Posted 08:37 -- September corn is down 1 3/4 cents and August soybeans are down 4 1/2 cents. December corn is down 1 1/2 cents and November soybeans are down 2 cents. September KC wheat is down 6 3/4 cents, September Chicago wheat is down 5 1/2 cents, and September MIAX Minneapolis wheat is down 3 3/4 cents. August crude oil is up $0.99 and Dow Jones futures are down 232 points. The U.S. Dollar Index is up 0.13 and August gold is up $38.80. Row crops are mostly lower as traders finalize positions before the release of the July WASDE report from USDA at 11 a.m. CDT. It will be interesting to see how long Friday's USDA's estimates hold the interest of traders, with weather the clear seasonal focus currently and conditions still friendly through most of July.

Livestock

Posted 11:56 -- August live cattle are up $2.80 at $222.025, August feeder cattle are up $2.83 at $324.1, August lean hogs are down $0.83 at $105.4, July corn is down 4 3/4 cents per bushel and July soybean meal is down $0.00. The Dow Jones Industrial Average is down 336.37 points and NASDAQ is down 13.14 points. It's been an invigorating morning for the cattle complex as traders quickly shot both the live cattle and feeder cattle contracts higher upon seeing the fed cash cattle market trade higher. Northern cattle are currently trading at $380 which is $10.00 higher than last week's weighted average, and Southern live cattle are trading at $228 to $230 which is $4.00 to $6.00 higher than last week's weighted average.

Posted 08:33 -- August live cattle are up $0.33 at $219.55, August feeder cattle are up $0.15 at $321.425, August lean hogs are up $0.50 at $106.725, July corn is down 1 3/4 cents per bushel and July soybean meal is down $0.00. The Dow Jones Industrial Average is down 218.88 points and NASDAQ is down 61.33 points. A few bids are currently on the table at $375 dressed, but still no business has developed in the fed cash cattle market. Asking prices are firm at $228 to $230 in the South and $380 plus in the North.

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