DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:45 -- December corn is up 6 1/2 cents per bushel, November soybeans are up 8 1/2 cents, September KC wheat is up 14 cents, September Chicago wheat is up 15 cents and September Minneapolis wheat is up 3cents. The Dow Jones Industrial Average is down 203.03 points. The U.S. Dollar Index is down 0.250 and August crude oil is down $0.25 per barrel. August gold is up $12.40 per ounce. Heading into the Friday close, wheat is holding solid gains in an about face from Thursday. Only bean oil has faded from early strength, while corn, soybeans and soymeal remain higher. There is very little news, but the wheat markets have been oversold.

Posted 10:32 -- December corn is up 7 cents per bushel, November soybeans are up 9 cents, September KC wheat is up 13 cents, September Chicago wheat is up 14 1/2 cents and September Minneapolis wheat is up 2 3/4 cents. The Dow Jones Industrial Average is down 136.23 points. The U.S. Dollar Index is down 0.490 and August crude oil is up $0.04 per barrel. August gold is up $13.50 per ounce. At midmorning, soybean oil futures have given up the early gains to trade lower. Soybeans have backed off as well but remain higher. Wheat markets continue to be very strong, with possible bullish reversal signals on the chart, dependent on the Friday close.

Posted 08:36 -- December corn is up 7 cents per bushel, November soybeans are up 9 1/2 cents, September KC wheat is up 15 1/4 cents, September Chicago wheat is up 13 3/4 cents and MIAX September Minneapolis wheat is up 7 3/4 cents. The Dow Jones Industrial Average is down 40.75 points. The U.S. Dollar Index is down 0.550 and August crude oil is up $0.81 per barrel. August gold is up $15.00 per ounce. Wheat is leading the way higher with corn and soybeans also starting very strong. Soybean oil is leading the soy complex higher again and appears headed to a seventh consecutive higher finish as it makes a new high again. Supporting beans is likely the extended forecast which shows a hotter trend toward the end of July into August.

Livestock

Posted 11:40 -- August live cattle are down $1.40 at $222.275, August feeder cattle are down $3.53 at $321.475, August lean hogs are up $0.23 at $106.05, September corn is up 8 cents per bushel and August soybean meal is up $3.40. The Dow Jones Industrial Average is down 244.07 points and NASDAQ is down 39.09 points. No new cash cattle trade has developed yet, but if packers want to avoid being short bought in the weeks ahead, they need to buy more cattle. At this point no bids have resurfaced following Thursday's trade.

Posted 08:38 -- August live cattle are down $0.23 at $223.45, August feeder cattle are down $1.05 at $323.95, August lean hogs are up $0.60 at $106.425, September corn is up 7 cents per bushel and August soybean meal is up $1.90. The Dow Jones Industrial Average is down 59.85 points and NASDAQ is up 84.79 points. Asking prices are posted at $232 plus in the South and $382 plus in the North. Yesterday a light trade developed in the North at $380, which is $1.00 higher than last week's weighted average, and in the South at $230, which is steady to $1.00 higher than last week's weighted average.

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