DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 08:33 -- December corn is up 3 1/4 cents per bushel, November soybeans are down 4 1/4 cents, September KC wheat is up 24 1/4 cents, September Chicago wheat is up 21 1/4 cents and MIAX September Minneapolis wheat is up 16 1/2 cents. The Dow Jones Industrial Average is up 84.75 points. The U.S. Dollar Index is down 0.060 and August crude oil is up $0.73 per barrel. August gold is down $3.30 per ounce. Wheat is sharply higher with corn firmer while beans have reversed early strength to trade lower. Soy products are also a bit weaker. It is likely that disappointment in no new China sales for the second consecutive day may have led to selling. Wheat is up sharply on the continued closure of the Kerch Strait where Russia sends more than 25% of its wheat exports.

Livestock

Posted 08:32 -- August live cattle are up $0.23 at $231.65, August feeder cattle are up $0.95 at $349.75, August lean hogs are up $0.45 at $98.9, December corn is up 3 cents per bushel and December soybean meal is down $0.60. The Dow Jones Industrial Average is up 2.54 points and the NASDAQ is up 166.17 points. At Wednesday's start the cattle contracts are trading mildly higher thanks to some additional technical support. On Tuesday afternoon there was some light trade reported in Nebraska at $380 ($12.00 lower) and some light trade in Iowa marked at $385 ($6.00 lower).

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