DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Posted 10:29 -- July corn is down 10 3/4 cents per bushel, July soybeans are down 19 1/2 cents, July KC wheat is down 13 cents, July Chicago wheat is down 14 1/2 cents and MIAX July Minneapolis wheat is down 10 1/4 cents. The Dow Jones Industrial Average is up 586.34 points. The U.S. Dollar Index is down 0.470 and June crude oil is down $7.21 per barrel. June gold is up $138.80 per ounce. At midmorning, losses are accelerating in grain and soy markets with July beans down 20 cents. Pressure is coming from optimism that we are close to a peace agreement with Iran along with a rapid planting pace and fund liquidation.

Posted 08:31 -- July corn is down 6 cents per bushel, July soybeans are down 3 3/4 cents, July KC wheat is down 9 cents, July Chicago wheat is down 13 1/4 cents and MIAX July Minneapolis wheat is down 1 cent. The Dow Jones Industrial Average is up 441.81 points. The U.S. Dollar Index is down 0.450 and June crude oil is down $5.81 per barrel. June gold is up $129.40 per ounce. Talk of a nearing peace plan between the U.S. and Iran has weakened grain and soybeans early Wednesday. Soybean meal is the lone exception. News sources report that Iran is closer to approving a peace plan, but expect volatility to remain high.

Livestock

Posted 08:34 -- June live cattle are up $0.33 at $253.55, August feeder cattle are up $1.05 at $373.35, June lean hogs are down $1.05 at $100.375, July corn is down 7 3/4 cents per bushel and July soybean meal is up $0.80. The Dow Jones Industrial Average is up 508.17 points and the NASDAQ is up 224.45 points. The cattle contracts are off to a stronger start as traders are again willing to mildly advance the cattle contracts thanks to continued beef demand. Meanwhile the lean hog complex is trading lower as traders haven't seen the support they need to confidently advance the contracts.

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