DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- December corn is down 5 1/2 cents and November soybeans are down 5 cents. September KC wheat is down 25 3/4 cents, September Chicago wheat is down 26 3/4 cents, and September MIAX Minneapolis wheat is down 22 1/4 cents. September crude oil is up $1.37 and Dow Jones futures are up 266 points. The U.S. Dollar Index is up 0.03 and December gold is down $53.10. Heading into the final half hour of trade, row-crop futures remain lower with bearish pressure spreading from the wheat market to pull corn and soybeans lower as well. It is safe to say weekend war-related headlines coupled with rainfall prospects heading into August will be the main drivers of price action when trade resumes Sunday evening.

Posted 10:35 -- December corn is down 4 1/4 cents and November soybeans are up 1/2 cents. September KC wheat is down 25 1/4 cents, September Chicago wheat is down 27 cents, and September MIAX Minneapolis wheat is down 20 cents. September crude oil is up $1.99 and Dow Jones futures are up 8 points. The U.S. Dollar Index is up 0.26 and December gold is down $62.70. At midmorning, wheat futures have broken heavily lower, seemingly as month-end profit-taking coincides with caution ahead of a weekend typical of a geopolitically driven market. As a testament to the rapid pace of the rally through July, however, September KC futures are just now again testing their 20-day moving average and thus far holding. Corn and soybean prices remain quietly mixed, with corn being pulled downward by spillover weakness from wheat.

Posted 08:35 -- December corn is down 2 3/4 cents and November soybeans are up 3 1/2 cents. September KC wheat is down 12 1/4 cents, September Chicago wheat is down 14 3/4 cents, and September MIAX Minneapolis wheat is down 10 3/4 cents. September crude oil is up $1.98 and Dow Jones futures are up 173 points. The U.S. Dollar Index is up 0.31 and December gold is down $65.20. Heading into the final session of July, row crops are mixed with corn and wheat lower but soybeans recovering from overnight lows to trade modestly higher. USDA reported another 9.3 million bushel export sale of new crop soybeans on Friday morning. At this point, Friday is shaping up to be another quiet session as traders square positions at month-end and wait to see what rainfall materializes over the weekend and into early August.

Livestock

Posted 11:38 -- October live cattle are up $0.33 at $227.775, September feeder cattle are up $1.33 at $343.775, October lean hogs are up $1.45 at $84.8, December corn is down 6 1/4 cents per bushel and December soybean meal is down $3.00. The Dow Jones Industrial Average is up 252.51 points and the NASDAQ is up 147.91 points. Packers are currently offering bids of $365 to $368 in Nebraska but no new trade has developed yet. Asking prices are firm in the South at $235 plus and $370 in the North.

Posted 08:32 -- October live cattle are up $0.40 at $227.85, September feeder cattle are up $0.35 at $342.8, October lean hogs are up $0.03 at $83.375, December corn is down 2 1/4 cents per bushel and December soybean meal is down $0.60. The Dow Jones Industrial Average is up 217.84 points and the NASDAQ is up 230.25 points. With the cash cattle market not having traded many cattle yet this week, more trade is going to need to develop throughout the day if packers want to avoid being short bought headed into next week. So far this week Southern live cattle have traded at mostly $231 to $232 and Northern dressed cattle have traded at mostly $365.

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