DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 10:32 -- July corn is up 19 3/4 cents per bushel, July soybeans are up 37 1/4 cents, July KC wheat is up 13 cents, July Chicago wheat is up 25 cents and MIAX July Minneapolis wheat is up 17 cents. The Dow Jones Industrial Average is down 68.37 points. The U.S. Dollar Index is down 0.180 and June crude oil is up $1.60 per barrel. June gold is down $18.70 per ounce. At midmorning grain and soy markets are surging in unison. Optimism over the new trading agreement with China along with some war premium being added back into prices is fueling the rally.

Posted 08:32 -- July corn is up 15 3/4 cents per bushel, July soybeans are up 27 1/2 cents, July KC wheat is up 20 1/4 cents, July Chicago wheat is up 29 1/4 cents and MIAX July Minneapolis wheat is up 21 1/2 cents. The Dow Jones Industrial Average is up 43.34 points. The U.S. Dollar Index is down 0.240 and June crude oil is down $1.85 per barrel. June gold is up $16.60 per ounce. Grain and soy markets are showing a strong response to the successful meeting with China last week and the decision to end tariffs along with a pledge to buy more U.S. farm products.

Posted 19:09 on Sunday, May 17 -- July corn is up 8 3/4 cents, and July soybeans are up 16 1/2 cents. July KC wheat is up 7 3/4 cents, July Chicago wheat is up 11 1/2 cents, and July MIAX Minneapolis wheat is up 10 cents. June crude oil is up $0.81, and Dow Jones futures are down 243 points. The U.S. Dollar Index is up 0.05, and June gold is down $30. Row-crop futures shot higher on the open Sunday evening, recovering from an ugly end to the week, which saw old-crop July soybeans lose over 50 cents of value between Thursday and Friday's sessions. The White House released the fact sheet from last week's trade summit in Beijing, stating that China will purchase $17 billion in U.S. agricultural goods in each of the next three years in addition to the 25 million metric tons of soybeans agreed upon last October. It would appear, for Sunday, that traders were simply looking for a dollar figure or volume to deem the meetings as productive. Prices have settled somewhat in the minutes following the 7 p.m. CDT open. Meanwhile, news in the Middle East has been slim, with no sign yet of an end to the standoff in the Persian Gulf. Crude oil prices are firm as a result.

Livestock

Posted 11:51 -- June live cattle are down $0.03 at $253.875, August feeder cattle are down $3.15 at $358.3, June lean hogs are down $0.15 at $98.6, July corn is up 20 3/4 cents per bushel and July soybean meal is up $2.90. The Dow Jones Industrial Average is down 52.38 points and the NASDAQ is down 252.33 points. Showlists this week are lighter in Texas, but mostly steady in Kansas, Nebraska and Colorado. The livestock contracts are trading lower into Monday's noon hour as traders continue to long for greater fundamentals to arise.

Posted 08:36 -- June live cattle are up $0.83 at $254.725, August feeder cattle are up $0.43 at $361.875, June lean hogs are up $0.75 at $99.5, July corn is up 14 cents per bushel and July soybean meal is up $3.00. The Dow Jones Industrial Average is down 62.27 points and the NASDAQ is up 9.00 points. The livestock complex is off to a bullish start to the new week as all three of the markets are trading higher. Following last week's surge in the fed cash cattle complex, it will be imperative to note exactly how many cattle traded in last week's market as that could indicate how aggressive packers may be this week.

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