DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- Posted 12:44 -- July corn is down 3 1/4 cents per bushel, July soybeans are down 6 1/4 cents, July KC wheat is down 12 cents, July Chicago wheat is down 13 3/4 cents and MIAX July Minneapolis wheat is down 5 3/4 cents. The Dow Jones Industrial Average is up 231.12 points. The U.S. Dollar Index is up 0.060 and July crude oil is down $0.90 per barrel. June gold is up $14.10 per ounce. Heading into the Thursday close, all grain and soy markets are under heavy pressure, let by wheat. Funds have been sellers in all markets Thursday, lightening up long positions ahead of the long holiday weekend. Crude oil, which had rallied early, made an about face and is trading lower on optimism for a peace deal.
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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 11:48 -- August live cattle are down $4.45 at $240.85, August feeder cattle are down $9.25 at $356.525, July lean hogs are down $1.88 at $100.1, July corn is up 1/2 cent per bushel and July soybean meal is steady. The Dow Jones Industrial Average is down 94.45 points and the NASDAQ is down 125.91 points. Some light cash cattle trade is developing in the South at $260 which is steady with last week's weighted average. Unfortunately the steady trend in the cash market isn't helping the livestock contracts as all three of the market's are trading lower into Thursday's noon hour.
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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