DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 10:31 -- July corn is up 1 1/4 cents per bushel, November soybeans are up 1 cent, September KC wheat is down 9 1/2 cents, September Chicago wheat is down 10 cents and MIAX September Minneapolis wheat is down 8 cents. The Dow Jones Industrial Average is up 155.04 points. The U.S. Dollar Index is down 0.230 and August crude oil is down $3.19 per barrel. August gold is up $54.50 per ounce. At midmorning, corn and soybeans have turned it around and are trading higher. Wheat has come off the low, but still lower on the drier forecast ahead. Crude oil is accelerating losses with spot oil nearing $68 per barrel.

Posted 08:35 -- July corn is down 2 1/2 cents per bushel, November soybeans are down 6 3/4 cents, September KC wheat is down 13 1/4 cents, September Chicago wheat is down 14 1/4 cents and MIAX September Minneapolis wheat is down 7 1/2 cents. The Dow Jones Industrial Average is down 223.02 points. The U.S. Dollar Index is down 0.330 and August crude oil is down $2.28 per barrel. August gold is up $16.30 per ounce. Grain and soy markets are all lower, led by wheat with KC and Minneapolis falling to new recent lows. Despite the outlook for a heat dome to enter the Central U.S. next week, crop conditions remain good. The failure to see any confirmation of China rumors today has likely pressured soybeans. The warmer and drier outlook next week will allow the winter wheat harvest to expand.

Livestock

Posted 11:31 -- August live cattle are down $0.85 at $246.375, August feeder cattle are down $3.73 at $369.575, August lean hogs are up $0.35 at $96.95, July corn is up 1 3/4 cents per bushel and July soybean meal is down $1.40. The Dow Jones Industrial Average is down 26.73 points and the NASDAQ is up 1.35 points. Bids are on the table all across the major cattle feeding states, but still no trade has developed yet. But given that no trade has developed yet this week, packers will need to get aggressive soon in order to secure the supply they need.

Posted 08:32 -- August live cattle are down $0.35 at $246.875, August feeder cattle are down $0.75 at $372.55, August lean hogs are up $0.83 at $97.425, July corn is down 2 cents per bushel and July soybean meal is down $3.80. The Dow Jones Industrial Average is down 159.56 points and the NASDAQ is down 274.53 points. The livestock complex is off to a mixed start as the cattle contracts have softened without any support from the cash market yet this week. Current there are not bids on the table but packer interest will need to improve soon as the market needs to trade.

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