DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Heading into the close, December corn is up 1 1/4 cents per bushel, November soybeans are down 6 1/2 cents, September KC wheat is down 1 1/2 cents, September Chicago wheat is down 5 1/2 cents and MIAX September Minneapolis wheat is down 0.0250 cents. The Dow Jones Industrial Average is down 307.27 points. The U.S. Dollar Index is up 0.610 and August crude oil is down $0.61 per barrel. August gold is down $24.40 per ounce. Soybeans turned lower, finally responding to USDA raising the good-to-excellent condition rating by 4% to 70%, as of the week ended July 13, which was above trade expectations. Corn is keeping its head above water as chatter of poor pollination in the Eastern Corn Belt has started up again. Crude oil is slightly lower so far, under pressure from the strength in the dollar.

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Posted 10:30 -- December corn is up 4 3/4 cents per bushel, November soybeans are up 1 3/4 cents, September KC wheat is up 6 1/2 cents, September Chicago wheat is up 3 1/4 cents and MIAX September Minneapolis wheat is up 2 cents. The Dow Jones Industrial Average is down 227.01 points. The U.S. Dollar Index is up 0.500 and August crude oil is down $0.37 per barrel. August gold is down $12.40 per ounce. Soybean market continues higher this morning in spite of the 4% rise in the good-to-excellent conditions in Monday's crop progress report, while the corn conditions remained unchanged. Spring wheat market is slightly higher but not sure which direction it should take, given the strong good-to-excellent condition rating reported in the North Dakota spring wheat crop.

Posted 08:44 -- September corn is down 3/4 cents and August soybeans are down 1/4 cents. December corn is down 3/4 of a cent and November soybeans are up 1 1/4 cents. September KC wheat is up 1 3/4 cents, September Chicago wheat is down 1/2 cents, and September MIAX Minneapolis wheat is up 1 3/4 cents. August crude oil is down $0.36 and Dow Jones futures are down 116 points. The U.S. Dollar Index is up 0.18 and August gold is down $15.50. Row-crop prices are mixed early Tuesday but have again reversed off overnight lows as bargain buyers are very active near these long-term lows. Pressure from the upside will come from another round of strong crop ratings from the USDA and the still friendly weather outlook through July; but at this point it seems bearish traders feel they have for the time being adequately priced in the current market conditions.

Livestock

Posted 11:34 -- August live cattle are up $2.90 at $222.25, August feeder cattle are up $3.00 at $322.475, August lean hogs are up $0.03 at $103.25, December corn is up 2 1/2 cents per bushel and December soybean meal is down $2.40. The Dow Jones Industrial Average is down 318.43 points. Cattle country remains rather quiet near the top of the noon hour. Some early asking prices in the South are starting out around $232-plus. Bids remain very elusive. Beef cutouts are higher at midday (choice 378.53 +1.46, select 366.61 +2.03) with light to moderate box movement (65 lds of choice cuts, 13 lds of select cuts, 00 lds of trim, and 06 lds of ground), with a choice/select spread of $11.92. Tuesday's projected cattle slaughter is 118,000. Pork cutouts at midday are 114.28, +0.43, with 156.83 total loads. Tuesday's projected hog slaughter is 476,000.

Posted 08:35 -- August live cattle are up $0.28 at $219.625, August feeder cattle are up $0.40 at $319.875, August lean hogs are up $0.35 at $103.575, December corn is down 1 3/4 cents per bushel and December soybean meal is down $0.60. The Dow Jones Industrial Average is up 7.44 points. Cash cattle country is quiet this morning with bids and asking prices not yet established. Significant trade volume will likely be delayed until late in the second half of the week. The CME Feeder Index for July 11, 2025, was $3.48 lower at $319.89, the projected CME Lean Hog Index for July 11, 2025, was up $0.15, at $107.25.

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