DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is down 3 cents and July soybeans are down 13 3/4 cents. July KC wheat is down 12 3/4 cents, July Chicago wheat is down 6 1/2 cents, and July MIAX Minneapolis wheat is down 14 cents. July crude oil is up $1.46 and Dow Jones futures are up 168 points. The U.S. Dollar Index is up 0.07 and August gold is up $9.20. Heading into the final half hour of trade for Tuesday, row-crop futures remain lower with little fresh news to break the fall. Traders are willing at this point to look little past timely planting of U.S. spring crops and a thus far friendly start to the growing season. Growing production ideas for South America corn crops are also adding to an unconcerning supply outlook among traders at least in the immediate future.

Posted 10:35 -- July corn is down 3 1/4 cents and July soybeans are down 11 cents. July KC wheat is down 13 3/4 cents, July Chicago wheat is down 7 3/4 cents, and July MIAX Minneapolis wheat is down 11 cents. July crude oil is down $0.14 and Dow Jones futures are up 166 points. The U.S. Dollar Index is down 0.04 and August gold is up $29.90. At midmorning, row-crop futures remain steadily lower through Tuesday's trade thus far. Soybeans specifically have featured an acceleration of selling pressure as the day has progressed. At this point, with decent opening crop ratings on Monday and plenty of rain in the two-week forecast, it would appear traders are committed to following the seasonal roadmap of liquidating futures length ahead of the summer months.

Posted 08:39 -- July corn is down 1 1/4 cents and July soybeans are down 8 3/4 cents. July KC wheat is down 11 1/4 cents, July Chicago wheat is down 7 cents, and July MIAX Minneapolis wheat is down 6 1/2 cents. July crude oil is up $0.22 and Dow Jones futures are up 116 points. The U.S. Dollar Index is down 0.10 and August gold is up $31.60. To open the day trade on Tuesday, row-crop futures are continuing their recent turn lower. USDA said on Monday afternoon that roughly two-thirds of both the corn and soybean crops in the U.S. are considered in good-to-excellent condition. July KC futures are working toward a ninth straight lower session as U.S. prices are being dragged down by sluggish world values amid comfortable grain supplies for at least the immediate future.

Livestock

Posted 11:46 -- August live cattle are down $1.53 at $239.075, August feeder cattle are down $4.10 at $347.45, July lean hogs are up $1.40 at $101.25, July corn is down 2 cents per bushel and July soybean meal is down $0.30. The Dow Jones Industrial Average is up 109.42 points and the NASDAQ is up 23.51 points. The cattle contracts are trading lower into Tuesday's noon hour as rumors continue to circulate throughout the marketplace regarding new cases of New World screwworm, which has the entire cattle complex on edge. But meanwhile the lean hog complex has found greater support and with pork cutout values higher -- the contracts are trading higher, too.

Posted 08:35 -- August live cattle are down $2.30 at $238.3, August feeder cattle are down $4.68 at $346.875, July lean hogs are down $0.35 at $99.5, July corn is down 3/4 cent per bushel and July soybean meal is down $0.10. The Dow Jones Industrial Average is up 41.22 points and the the NASDAQ is down 55.52 points. With New World screwworm getting closer and closer to the U.S./Mexico border, the cattle contracts are down sharply at Tuesday's start. No cash cattle trade has developed yet.

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