DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- As we near Monday's close, May corn is down 8 3/4 cents per bushel, May soybeans are down 22 1/2 cents, May KC wheat is down 6 3/4 cents, May Chicago wheat is down 9 1/4 cents and July Minneapolis wheat is down 11 1/4 cents. The Dow Jones Industrial Average is down 103 points and May crude oil is up $0.39 per barrel. The U.S. Dollar Index is down .09 and June gold is down $12.10 per ounce. The grains have seen losses extended in late-session trade with weather viewed as a bearish factor for both soybeans and wheat. Favorable harvest weather is seen for Argentina along with beneficial moisture forecast for the Northern and Southern Plains and eastern Canadian Prairies.
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Posted 10:32 -- May corn is down 7 1/2 cents per bushel, May soybeans are down 20 3/4 cents, May KC wheat is down 3 1/2 cents, May Chicago wheat is down 8 1/2 cents and July Minneapolis wheat is down 9 3/4 cents. The Dow Jones Industrial Average is down 71.58 points and May crude oil is up $0.62 per barrel. The U.S. Dollar Index is down 0.060 and June gold is down $10.30 per ounce. Despite growing concern over the expanding dry weather in Brazil's safrinha corn belt, corn is sharply lower. Soybeans and bean oil are also down hard at midmorning.
Posted 10:41 -- May corn is down 5 3/4 cents per bushel, May soybeans are down 14 cents, May KC wheat is down 10 cents, May Chicago wheat is down 15 cents and July Minneapolis wheat is down 14 1/4 cents. The Dow Jones Industrial Average is down 32.00 points and May crude oil is up $1.36 per barrel. The U.S. Dollar Index is down 0.060 and June gold is down $9.00 per ounce. USDA announced two new soybean sales Monday morning -- 132,000 mt (4.9 mb) of soybeans sold to China for 2021-22, and 110,000 mt (4 mb) of soybeans to Bangladesh -- 55,000 mt for 2020-21, and 55,000 mt for 2021-22. All of the ag futures markets are under pressure after the Monday reopening of trade.
Posted Sunday, 4/11 at 7:07 p.m. -- After the Sunday evening open, May corn is up 4 cents, May soybeans are down 1/4 cent and July KC wheat is up 1/2 cent. The seven-day forecast expects moderate rain amounts from Manitoba to Texas, including Minnesota and northern Wisconsin. Central and southern Brazil were mostly dry over the weekend, while Argentina received moderate to heavy amounts, causing some flooding concern at harvest time. Outside markets are leaning slightly bearish with the June Dow Jones futures trading down 48 points and the June U.S. Dollar Index up 0.07. June gold is down $3.10 and May crude oil is up $0.24 a barrel.
LivestockPosted 11:42 -- June live cattle are down $0.33 at $122.25, May feeder cattle are up $0.05 at $149.675, June lean hogs are down $1.48 at $107.475, May corn is down 6 1/2 cents per bushel and May soybean meal is down $1.00. The Dow Jones Industrial Average is down 46.18 points and NASDAQ is down 42.44 points. The livestock contracts haven't been met with absolute support, nor have they been forced to trade sharply lower. Largely, the day's indecisive trade stems from the fact that traders want to see strong fundamental support before they invest more.
Posted 10:32 -- June live cattle are up $0.05 at $122.625, May feeder cattle are up $0.45 at $150.075, June lean hogs are up $0.18 at $109.125, May corn is down 7 1/2 cents per bushel and May soybean meal is down $1.00. The Dow Jones Industrial Average is down 74.60 points and NASDAQ is down 73.11 points. The livestock contracts have traded on both sides of sideways through Monday's early trade as the market tries to find traction in the new week. The feeder cattle market is at ease as corn prices see modest pressure Monday morning and are set trading lower. Even though cost of gains are still high, seeing lower trade is more comforting that the alternative.
Posted 08:41 -- June live cattle are up $0.23 at $122.8, May feeder cattle are up $0.90 at $150.525, June lean hogs are up $0.53 at $109.475, May corn is down 2 3/4 cents per bushel and May soybean meal is down $1.00. The Dow Jones Industrial Average is down 45.93 points and NASDAQ is down 36.56 points. Jumping into a new week, the livestock complex is ready to pick up where last week's markets left off. The livestock contracts are diving into Monday's trade fully supported and looking to keep their upward progression as long as fundamental backing continues to support the marketplace.
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