DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 10:26 -- July corn is up 2 3/4 cents per bushel, July soybeans are up 3 cents, July KC wheat is down 3/4 cent, July Chicago wheat is down 3 1/2 cents and MIAX July Minneapolis wheat is up 1 3/4 cents. The Dow Jones Industrial Average is down 105.24 points. The U.S. Dollar Index is up 0.340 and July crude oil is up $3.46 per barrel. June gold is down $29.40 per ounce. At midmorning both corn and beans shook off early selling to trade moderately higher while wheat threatens to finish lower for the third straight day in Chicago and KC. There is no news so far on an Iran peace accord, but the fact that crude oil is again rising may be an indication that the market feels the talks will not be successful.

Posted 08:31 -- July corn is down 1/4 cent per bushel, July soybeans are up 1 1/4 cents, July KC wheat is down 2 3/4 cents, July Chicago wheat is down 2 3/4 cents and MIAX July Minneapolis wheat is up 1/4 cent. The Dow Jones Industrial Average is down 178.96 points. The U.S. Dollar Index is up 0.340 and July crude oil is up $3.91 per barrel. June gold is down $39.30 per ounce. Trading is subdued ahead of the ongoing peace negotiations with Iran while the rapid planting pace for corn and soy followed with plentiful rains has weighed on market sentiment. Wheat markets are lower for the third consecutive day. Crude oil is again rising on the fragile tone of the Iran peace talks. Expect the uncertainty to continue.

Livestock

Posted 08:40 -- August live cattle are down $1.65 at $243.65, August feeder cattle are down $3.40 at $362.375, July lean hogs are down $0.73 at $101.25, July corn is down 3/4 cent per bushel and July soybean meal is down $0.90. The Dow Jones Industrial Average is down 251.40 points and the NASDAQ is down 98.96 points. The livestock complex is off to a weaker start as the market continues to look for fundamental support but isn't finding the reassurance it desires. A single bid is on the table in Kansas this morning at $260, but otherwise the market remains idle in terms of the cash market.

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