DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:46 -- December corn is down 1/4 cent per bushel, November soybeans are up 1 cent, September KC wheat is down 9 1/4 cents, September Chicago wheat is down 8 cents and MIAX September Minneapolis wheat is down 0.0600 cents. The Dow Jones Industrial Average is up 448.38 points. The U.S. Dollar Index is down 0.100 and September crude oil is down $0.05 per barrel. August gold is down $46.30 per ounce. As we approach the close, corn has moved little, soybeans have given back much of the early gains and wheat is under heavy pressure. Bean oil stands alone with strength. Despite several new trade deals, there is little excitement on the part of grains, but the stock market sure likes it.

Posted 10:30 -- December corn is down 1/2 cent per bushel, November soybeans are up 1 3/4 cents, September KC wheat is down 6 3/4 cents, September Chicago wheat is down 5 3/4 cents and MIAX September Minneapolis wheat is down 0.0375 cents. The Dow Jones Industrial Average is up 236.33 points. The U.S. Dollar Index is up 0.030 and September crude oil is down $0.40 per barrel. August gold is down $21.00 per ounce. At midmorning wheat is under pressure while corn remains little changed and soybeans have retreated from the highs. Bean oil is higher despite the fall in crude oil. Weather remains the overriding bearish factor in corn and soy markets with many believing record yields are on the way without an August disaster.

Posted 08:34 -- December corn is up 1 cent per bushel, November soybeans are up 8 1/2 cents, September KC wheat is down 4 cents, September Chicago wheat is down 3 3/4 cents and MIAX September Minneapolis wheat is down 0.0025 cents. The Dow Jones Industrial Average is up 243.07 points. The U.S. Dollar Index is up 0.180 and September crude oil is down $0.25 per barrel. August gold is down $28.60 per ounce. Corn is little changed, soybeans and soy products firm and wheat lower. A series of trade deals were announced Tuesday and soybeans are likely reacting to the deal with Indonesia -- an important U.S. soy customer. Weighing on markets is the still non-threatening weather outlook.

Livestock

Posted 11:44 -- August live cattle are up $1.43 at $226.4, August feeder cattle are up $1.98 at $330.25, October lean hogs are down $0.60 at $89.9, September corn is down 3/4 cent per bushel and August soybean meal is up $0.20. The Dow Jones Industrial Average is up 371.92 points and NASDAQ is up 36.04 points. Both the live and feeder cattle contracts are rallying to new highs as traders are pleased to hear about the trade deal with Japan and demand in the countryside for feeder cattle is red hot. Asking prices are noted in the South at $322-plus, but are still not known in the North.

Posted 08:33 -- August live cattle are up $0.10 at $225.075, August feeder cattle are steady, October lean hogs are down $0.20 at $90.3, September corn is up 3/4 cent per bushel and August soybean meal is up $1.80. The Dow Jones Industrial Average is up 228.67 points and NASDAQ is up 55.80 points. Still no bids or asking prices are noted in the fed cash cattle market, and it's likely that the week's trade will be delayed until Thursday or Friday. Although packers were able to commit some supply to the deferred delivery option last week, they'll still need to participate in this week's market to avoid being short bought in the weeks ahead.

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