DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- Posted 10:29 -- July corn is down 5 1/2 cents per bushel, July soybeans are down 1 cent, July KC wheat is down 14 3/4 cents, July Chicago wheat is down 17 cents and MIAX July Minneapolis wheat is down 0.1100 cents. The Dow Jones Industrial Average is up 631.10 points. The U.S. Dollar Index is down 0.780 and June crude oil is down $2.75 per barrel. June gold is up $73.70 per ounce. At midmorning, soybean oil has reversed early weakness to trade higher and soybeans are inching toward unchanged. Corn and wheat remain under heavy selling pressure as those markets had reached overbought conditions. No new developments have been put forth on the Iran conflict situation.
Posted 08:33 -- July corn is down 3 3/4 cents per bushel, July soybeans are down 1 1/4 cents, July KC wheat is down 8 3/4 cents, July Chicago wheat is down 9 1/4 cents and MIAX July Minneapolis wheat is down 5 1/4 cents. The Dow Jones Industrial Average is up 255.22 points. The U.S. Dollar Index is down 0.470 and June crude oil is down $1.78 per barrel. June gold is up $82.30 per ounce. Grain and soybean markets are down, led by wheat after large deliveries were tendered by commercial firms against the May contract on first delivery day. That has interrupted the recent rally in wheat fueled by falling conditions.
LivestockPosted 08:41 -- June live cattle are down $0.45 at $254.8, August feeder cattle are up $0.43 at $372.95, June lean hogs are down $0.03 at $103.725, July corn is down 3 1/2 cents per bushel and July soybean meal is down $4.50. The Dow Jones Industrial Average is up 329.31 points and the NASDAQ is up 48.63 points. No new bids are on the table in the cash cattle market, and it could be that the bulk of this week's business is done with. Southern live cattle have traded at mostly $255 to $256 which is $9.00 to $10.00 higher than last week's weighted average and Northern dressed cattle have traded at mostly $400 which is $14.00 higher.
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