DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:53 -- July corn is up 2 1/2 cents per bushel, July soybeans are up 4 3/4 cents, July KC wheat is down 4 cents, July Chicago wheat is down 3/4 cent and MIAX July Minneapolis wheat is down 1 cent. The Dow Jones Industrial Average is down 103.02 points. The U.S. Dollar Index is up 0.230 and June crude oil is down $0.74 per barrel. June gold is up $13.30 per ounce. Heading into the Wednesday close, corn, beans and bean meal are higher while wheat and bean oil are lower. There are rumors the U.S. and China may be looking at the framework of a trade deal including energy and ag products and possibly lower tariffs. Ethanol production rose sharply last week. U.S. wheat is now well overpriced in world markets with Russian FOB said to be a $2 discount.

Posted 10:28 -- July corn is up 4 cents per bushel, July soybeans are up 4 3/4 cents, July KC wheat is up 7 cents, July Chicago wheat is up 3 cents and MIAX July Minneapolis wheat is up 5 1/4 cents. The Dow Jones Industrial Average is down 226.39 points. The U.S. Dollar Index is up 0.200 and June crude oil is up $0.48 per barrel. June gold is up $10.90 per ounce. At midmorning, corn, wheat and soybeans are all higher with KC wheat once again leading the way following Tuesday's bullish USDA production data. Traders are waiting to hear any results from the U.S.-China trade meeting and any new information on the Iran conflict. With a clear path this week, I would assume that planting is going at full throttle.

Posted 08:31 -- July corn is up 1/4 cent per bushel, July soybeans are up 1 cent, July KC wheat is up 5 1/4 cents, July Chicago wheat is down 6 cents and MIAX July Minneapolis wheat is up 2 3/4 cents. The Dow Jones Industrial Average is down 197.97 points. The U.S. Dollar Index is up 0.250 and June crude oil is up $0.33 per barrel. June gold is up $6.90 per ounce. Corn, soybeans and bean oil are mixed to a bit lower with Chicago wheat. KC and Minneapolis wheat futures are extending gains after the bullish production report on Tuesday.

Livestock

Posted 11:29 -- June live cattle are up $3.98 at $251.675, August feeder cattle are up $3.80 at $360.35, June lean hogs are up $3.08 at $101.5, July corn is up 1 1/2 cents per bushel and July soybean meal is up $8.40. The Dow Jones Industrial Average is down 135.64 points and the NASDAQ is up 291.08 points. Following the lower trade that developed earlier this week, the livestock contracts are finally back to trading higher as all three of the markets are trading higher into the day's noon hour. More bids have surfaced in the cash market, but no new trade has developed.

Posted 08:34 -- June live cattle are up $1.03 at $248.725, August feeder cattle are down $0.55 at $356., June lean hogs are up $0.65 at $99.075, July corn is up 1/2 cent per bushel and July soybean meal is up $2.50. The Dow Jones Industrial Average is down 230.70 points and the NASDAQ is up 57.81 points. The livestock complex is off to a mixed start as the live cattle and lean hog contracts are trading higher -- but the feeder cattle contracts are reluctant to do so. No new bids are currently on the table in the cash market, but some more trade could develop at any point as the week's movement has been thin.

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