DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is up 7 1/2 cents per bushel, November soybeans are up 18 3/4 cents, September KC wheat is down 3/4 cent, September Chicago wheat is up 2 3/4 cents and MIAX September Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average is up 169.39 points. The U.S. Dollar Index is down 0.180 and August crude oil is up $1.25 per barrel. August gold is up $38.60 per ounce. China rumors have fueled a sharp rally in soybeans and corn. After falling to a new low, December corn appears to have formed a key reversal today. Rumors that China is seeking September-October U.S. soybeans and the appearance of sales to China and unknown in the morning sales report have buyers flocking to the market. Add to that a hot and dry ridge expected to move into the central Corn Belt starting this weekend, and a bullish fire has been lit.

Posted 10:27 -- July corn is up 1 3/4 cents per bushel, November soybeans are up 14 cents, September KC wheat is up 3/4 cent, September Chicago wheat is up 1 1/4 cents and MIAX September Minneapolis wheat is down 2 1/4 cents. The Dow Jones Industrial Average is up 516.68 points. The U.S. Dollar Index is down 0.300 and August crude oil is up $1.21 per barrel. August gold is up $39.30 per ounce. Crude oil has reversed course after falling to the lowest level since March. That has pulled up bean oil and the entire soy complex. Optimism remains high that China will soon return with a buying program for U.S. soybeans.

Posted 08:33 -- July corn is down 1 1/2 cents per bushel, November soybeans are up 5 1/2 cents, September KC wheat is down 5 cents, September Chicago wheat is down 3 3/4 cents and MIAX September Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average is up 251.10 points. The U.S. Dollar Index is down 0.090 and August crude oil is down $0.51 per barrel. August gold is up $22.70 per ounce. Early Thursday, only soybeans and soymeal are modestly higher while corn, wheat and bean oil sag. For the first time since the first week of March, spot crude oil fell below $69 per barrel as oil has started to flow from the Strait of Hormuz.

Livestock

Posted 11:33 -- August live cattle are down $0.43 at $246.1, August feeder cattle are down $0.73 at $372.2, August lean hogs are up $0.25 at $96.95, July corn is up 4 cents per bushel and July soybean meal is up $2.60. The Dow Jones Industrial Average is up 278.84 points and the NASDAQ is down 133.34 points. Bids are on the table in Kansas and Nebraska -- but still no cattle have traded. Later this afternoon the Quarterly Hogs and Pigs report is set to be released.

Posted 08:33 -- August live cattle are up $1.18 at $247.7, August feeder cattle are up $2.70 at $375.625, August lean hogs are down $0.30 at $96.4, July corn is down 1 1/2 cents per bushel and July soybean meal is up $1.40. The Dow Jones Industrial Average is up 310.37 points and the NASDAQ is up 199.65 points. The cattle complex is off to a noticeable rally again today as traders are confident in the market's long-term bullishness. No cash cattle trade has developed yet and no bids are on the table.

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