DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Posted 10:28 -- July corn is up 4 cents per bushel, July soybeans are up 3 cents, July KC wheat is up 6 1/4 cents, July Chicago wheat is up 4 1/2 cents and MIAX September Minneapolis wheat is up 1 3/4 cents. The Dow Jones Industrial Average is up 535.52 points. The U.S. Dollar Index is down 0.190 and July crude oil is down $3.35 per barrel. August gold is up $139.60 per ounce. At midmorning, all of the grain and soy markets, with the exception of bean oil, have firmed up. Bean oil is likely being pressured by the fading crude oil market with spot oil now down over $3.30. Equities are soaring on the prospect that we could be nearer to at least a memorandum of understanding with Iran. We shall see if that comes to fruition.

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Posted 08:33 -- July corn is up 1/4 cent per bushel, July soybeans are up 1 3/4 cents, July KC wheat is down 1/4 cent, July Chicago wheat is up 3/4 cent and MIAX September Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average is up 331.43 points. The U.S. Dollar Index is down 0.120 and July crude oil is down $2.27 per barrel. August gold is up $107.00 per ounce. Grain and soy markets are mixed in quiet trade early Friday. Crude oil is fading and stocks rising on the hopes that a peace deal might be signed with Iran in coming days.

Livestock

Posted 11:19 -- August live cattle are down $2.35 at $240.325, August feeder cattle are down $2.50 at $357.15, July lean hogs are up $0.68 at $97.3, July corn is up 3 1/4 cents per bushel and July soybean meal is up $0.40. The Dow Jones Industrial Average is up 340.33 points and the NASDAQ is up 42.70 points. Bids are on the table in both regions but no cattle have traded yet. Packers will need to become more aggressive in the hours ahead to ensure they won't be short bought in the coming weeks.

Posted 08:35 -- August live cattle are down $0.03 at $242.65, August feeder cattle are up $0.15 at $359.8, July lean hogs are down $1.28 at $95.35, July corn is up 1/4 cent per bushel and July soybean meal is up $1.00. The Dow Jones Industrial Average is up 291.72 points and the NASDAQ is down 60.34 points. The livestock complex is again off to a mixed start as traders long for better fundamental support. There's yet to be any significant trade in the cash market, so packer interest will need to develop soon.

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