DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:40 -- December corn is up 10 1/4 cents per bushel, November soybeans are up 10 1/2 cents, September KC wheat is up 45 cents, September Chicago wheat is up 36 1/4 cents and MIAX September Minneapolis wheat is up 25 3/4 cents. The Dow Jones Industrial Average is up 112.90 points. The U.S. Dollar Index is down 0.430 and August crude oil is down $0.21 per barrel. August gold is down $5.80 per ounce. Wheat is soaring at midday, led by Kansas City on the export implications from a closed Kerch Strait for Russian wheat exports. There are reportedly few FOB wheat offers in that region and insurance rates for vessels are surging. The news about restricted Russian and Ukraine exports comes at a time when world wheat supplies are slated to fall dramatically in 2026. Funds have been very big buyers of both corn and wheat Wednesday. On another bullish note, the June NOPA crush came out more than 10 mb higher than trade estimates at a record 214.3 mb.

Posted 10:31 -- December corn is up 8 1/4 cents per bushel, November soybeans are up 7 3/4 cents, September KC wheat is up 41 1/4 cents, September Chicago wheat is up 35 cents and MIAX September Minneapolis wheat is up 24 cents. The Dow Jones Industrial Average is up 152.59 points. The U.S. Dollar Index is down 0.200 and August crude oil is down $0.83 per barrel. August gold is down $18.40 per ounce. Grain and soy markets -- with the exception of bean oil -- are trading sharply higher with wheat markets exploding to the upside on Black Sea developments. Heat and dryness both in the U.S. and in western Europe are likely compromising yields.

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 11:35 -- August live cattle are down $1.53 at $229.9, August feeder cattle are down $0.58 at $348.225, August lean hogs are up $1.68 at $100.125, December corn is up 7 1/4 cents per bushel and December soybean meal is up $1.20. The Dow Jones Industrial Average is down 43.05 points and the NASDAQ is down 33.10 points. With continued support from consumers, traders are feeling confident enough to push the lean hog contracts higher this morning as they've currently rallied the spot August contract above the market's resistance at $100. No new cash cattle trade has developed but bids are on the table in Nebraska.

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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