DTN's Quick Takes

Grains

OMAHA (DTN) -- May corn is down 5 1/2 cents per bushel, May soybeans are down 7 cents, May KC wheat is down 18 cents, May Chicago wheat is down 12 1/2 cents and May Minneapolis wheat is down 12 3/4 cents. The Dow Jones Industrial Average is up 152.68 points and April crude oil is down $1.16 per barrel. The U.S. Dollar Index is down 0.540 and April gold is up $8.90 per ounce. Grain and soybeans remain under heavy selling pressure going into the close, while soybean meal is the only contract still slightly in the green. Crude oil futures are leaking, adding to pressure on both bean oil and corn.

Posted 10:33 -- May corn is down 4 1/4 cents per bushel, May soybeans are down 7 1/4 cents, May KC wheat is down 15 3/4 cents, May Chicago wheat is down 9 1/4 cents and May Minneapolis wheat is down 12 cents. The Dow Jones Industrial Average is up 91.42 points and April crude oil is down $0.84 per barrel. The U.S. Dollar Index is down 0.400 and April gold is up $3.60 per ounce. The sellers keep pounding on Kansas City wheat futures, and that has now spilled over into Minneapolis. Soybeans are weakening with bean oil and crude oil, with soymeal still $2.50 higher. Poor soybean inspections for the first time in quite some time may accelerate the selling. May corn needs to stay above the $6.37 to $6.39 level or risk a further drop.

Posted 08:38 -- May corn is down 2, May soybeans are down 1/4 cent, May KC wheat is down 13 cents, May Chicago wheat is down 7 3/4 cents and May Minneapolis wheat is down 2 cents. The Dow Jones Industrial Average is up 225.04 points and April crude oil is down $0.59 per barrel. The U.S. Dollar Index is down 0.360 and April gold is up $5.80 per ounce. KC wheat continues its freefall and appears headed for a fifth consecutive lower finish, as more rain looks to be headed to some of the dry HRW areas. Soybeans and corn are trading close to unchanged and a bit lower following the bearish end to last week.

Posted Sunday, Feb. 26, at 7:06 CST p.m. -- After the Sunday evening open, crop prices are quietly mixed. May corn is up 1/2 cent and May soybeans are up 1/2 cent. The seven-day forecast expects more snow across the Midwest this week with the heaviest precipitation from Arkansas to Virginia on Wednesday and Thursday. May KC wheat is down 1/2 cent with high winds near the Texas Panhandle kicking up some big dust storms Sunday. May Minneapolis wheat is down 1/2 cent. Outside markets are also quiet with April crude oil up $0.25 and Dow Jones futures up 5 points. The U.S. Dollar Index is down 0.06 and April gold is up $3.40.

Livestock

Posted 11:42 -- April live cattle are up $0.40 at $165.775, March feeder cattle are up $0.78 at $189.85, April lean hogs are down $0.78 at $85.25, May corn is down 4 3/4 cents per bushel and May soybean meal is up $0.70. The Dow Jones Industrial Average is up 102.85 points. Both the live cattle and feeder cattle contracts are trading higher as the market rallies on cheaper corn prices and excellent demand. The cattle contracts should continue to trade higher well through Monday's end. New showlists appear to be higher in major feeding states.

Posted 08:37 -- April live cattle are up $0.15 at $165.525, March feeder cattle are down $0.13 at $188.95, April lean hogs are down $0.03 at $86., May corn is down 3/4 cent per bushel and May soybean meal is steady. The Dow Jones Industrial Average is up 217.70 points. Despite having the knowledge of Friday's Cattle on Feed report, the cattle contracts are trading mixed as traders enter the new week. Corn prices continue to venture lower, which could give feeders the incentive they need to turn higher.

(c) Copyright 2023 DTN, LLC. All rights reserved.