DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 10:37 -- December corn is up 1 1/4 cents per bushel, November soybeans are down 9 cents, September KC wheat is up 3 1/4 cents, September Chicago wheat is down 3 cents and MIAX September Minneapolis wheat is down 0.0050 cents. The Dow Jones Industrial Average is down 41.92 points. The U.S. Dollar Index is up 0.580 and September crude oil is up $0.61 per barrel. August gold is down $36.50 per ounce. The failure to secure an ag-specific new trade agreement with China along with rising crop estimates and beneficial weather have combined to pummel soybeans with November going sub-$10.00 for the first time. Soybean meal has also plunged to another new low.

Posted 08:36 -- December corn is up 2 cents per bushel, November soybeans are down 3 cents, September KC wheat is up 4 1/4 cents, September Chicago wheat is up 1/2 cent and MIAX September Minneapolis wheat is up 0.0075 cents. The Dow Jones Industrial Average is up 25.98 points. The U.S. Dollar Index is up 0.590 and September crude oil is up $0.50 per barrel. August gold is down $21.60 per ounce. Soybeans and soybean oil are under pressure while wheat and corn have bounced from morning lows. It is quiet ahead of the Federal Reserve interest rate decision later Wednesday. Weather remains very favorable, but past Aug. 1 we get a bit drier forecast, which is regarded as beneficial.

Livestock

Posted 08:35 -- October live cattle are up $0.53 at $226.975, August feeder cattle are up $0.63 at $336.825, October lean hogs are down $0.53 at $88.2, September corn is up 1 cent per bushel and August soybean meal is down $0.40. The Dow Jones Industrial Average is up 7.68 points and NASDAQ is up 43.05 points. The cattle complex is continuing to trade higher as traders hold onto the strong fundamental position of the market and believe demand is going to remain strong. Still no cash cattle trade has developed but asking prices are noted in the South at $235 plus.

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