DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

Todd Hultman
By  Todd Hultman , DTN Lead Analyst
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(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- May corn is up 21 1/4 cents per bushel, May soybeans are up 33 1/2 cents, July KC wheat is up 34 1/4 cents, July Chicago wheat is up 28 3/4 cents and July Minneapolis wheat is up 37 1/4 cents. The Dow Jones Industrial Average is up 82.06 points and May crude oil is up $2.52 per barrel. The U.S. Dollar Index is up 0.290 and June gold is up $7.10 per ounce. The corn and bean oil markets continue to defy gravity, setting new contract highs, while the wheat markets are on fire due to poor seeding weather up north and arid weather in the drought-plagued Southern Plains. The endless Russia-Ukraine conflict continues to paint bullish demand potential for U.S. wheat. Funds are buying, adding to growing longs in the grain and soy complex.

Posted 10:32 -- May corn is up 19 3/4 cents per bushel, May soybeans are up 24 3/4 cents, July KC wheat is up 37 1/4 cents, July Chicago wheat is up 29 cents and July Minneapolis wheat is up 37 1/2 cents. The Dow Jones Industrial Average is down 50.73 points and May crude oil is up $1.10 per barrel. The U.S. Dollar Index is up 0.230 and June gold is up $16.30 per ounce. Grains and soybeans are accelerating the move higher with cold weather and wet fields prohibiting planting in the U.S., and the dry forecast for central Brazil impacting that second corn crop, and of course the Ukraine war appears to have no end in sight.

Posted 08:34 -- May corn is up 12 1/4 cents per bushel, May soybeans are up 16 1/4 cents, July KC wheat is up 21 3/4 cents, July Chicago wheat is up 22 1/2 cents and July Minneapolis wheat is up 26 3/4 cents. The Dow Jones Industrial Average is up 12.24 points and May crude oil is up $1.38 per barrel. The U.S. Dollar Index is up 0.090 and June gold is up $22.20 per ounce. There has been no progress on any sort of cease fire in Ukraine, with Russians continuing to send missiles into Ukrainian cities, including Lviv, over the weekend. Grain and soybeans have again moved higher on that news and a dry forecast in central Brazil, and an active U.S. pattern that is likely to further delay corn and soy seeding. Wheat is leading the way higher along with bean oil, which gapped higher.

Posted Sunday, April 17, at 7:06 p.m. CDT -- After the Sunday evening open, grains are trading higher. May corn is up 4 1/2 cents, and May soybeans are up 15 1/2 cents. May KC wheat is up 12 1/2 cents. In South America, the seven-day forecast is mostly dry for Brazil and has some limited chances for showers in Argentina at midweek. Here in the U.S., snow is falling across Iowa and Minnesota. Temperatures are expected to gradually warm this week with chances for rain across the central Plains. The southwestern U.S. Plains, however, will remain mostly dry with hot weather in Texas later this week. June crude oil is up $0.89, and Dow Jones futures are down 162 points. The U.S. Dollar Index is down 0.01, and June gold is up $17.70.

Livestock

Posted 11:47 -- June live cattle are up $0.10 at $136.525, May feeder cattle are down $2.00 at $159.775, June lean hogs are up $2.70 at $121.175, May corn is up 23 1/4 cents per bushel and May soybean meal is up $4.70. The Dow Jones Industrial Average is down 115.78 points. With the onset of higher grain prices, the live cattle and feeder cattle contracts are veering lower into Monday's afternoon. Meanwhile, the lean hog complex is trading upward of $2.00 higher as the market see strong consumer interest.

Posted 08:34 -- June live cattle are up $0.35 at $136.775, May feeder cattle are down $1.03 at $160.75, June lean hogs are up $1.00 at $119.475, May corn is up 12 1/2 cents per bushel and May soybean meal is up $0.60. The Dow Jones Industrial Average is up 13.62 points. After a stellar rally in last week's cash cattle market, feedlots will work to compile their showlists early this week and hope to nudge the cash market higher again this week. The market's ability to successfully see cash cattle trade higher will largely depend on the board's cooperation.

Todd Hultman