DTN's Quick Takes

By DTN Analysts

Grains

Posted 10:32 -- May corn is down 3 cents per bushel, May soybeans are up 3 cents, May KC wheat is down 4 cents, May Chicago wheat is down 8 cents and May Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average is down 1,125.45 points and April crude oil is down $1.07 per barrel. The U.S. dollar index is down 0.020 and April gold is down $6.90 per ounce. The risk-on, risk-off market action continues. Early Wednesday trade in energy, equities and grains are the latter, with the Dow giving up all of Tuesday's gains. Soybeans and meal are modestly higher following the third straight day of flash soybean sales to unknown (China?). However, the market focus is once again the rapid spread and efforts to contain the COVID-19 virus.

Posted 08:38 -- May corn is down 1/2 cent per bushel, May soybeans are up 3 3/4 cents, May KC wheat is down 2 1/4 cents, May Chicago wheat is down 4 cents and May Minneapolis wheat is up 1/4 cent. The Dow Jones Industrial Average is down 683.47 points and April crude oil is down $0.98 per barrel. The U.S. dollar index is down 0.390 and April gold is up $1.50 per ounce. Mixed to lower trade in corn and wheat is occurring early Wednesday, while the soy complex shows independent strength. For the third straight day a new soybean sale was announced sold to unknown. This time, it was 194,000 mt (7.1 mb), with 126,000 mt (4.6 mb) of that for 2019-20, and the balance for 2020-21.

Livestock

OMAHA (DTN) -- April live cattle are down $0.40 at $105.05, April feeder cattle are down $2.45 at $125.5, April lean hogs are down $0.83 at $64.175, May corn is down 2 3/4 cents per bushel and May soybean meal is up $0.70. The Dow Jones Industrial Average is down 899.88 points and NASDAQ is down 241.11 points. Feeder cattle contracts lead the movement lower Wednesday morning, and since the day's initial opening both live cattle and lean hog contracts have followed suit. The midweek weakness is not going to help the cash cattle market and the cattle that have yet to trade.

Posted 10:33 -- April live cattle are up $0.48 at $105.925, April feeder cattle are down $0.58 at $127.375, April lean hogs are down $0.53 at $64.475, May corn is down 2 3/4 cents per bushel and May soybean meal is up $2.20. The Dow Jones Industrial Average is down 1,137.28 points and NASDAQ is down 315.89 points. The Fed Cattle Exchange Auction reported a total of 460 head, consisting of three lots (one lot each in Kansas, Texas, and Nebraska). All lots were offered at $110 and sold at that price. The Kansas and Texas lots are set for one-to-nine-day delivery while the Nebraska lot is set for one-to-17-day delivery.

Posted 08:43 -- April live cattle are up $0.33 at $105.775, April feeder cattle are down $0.10 at $127.85, April lean hogs are up $0.45 at $65.45, May corn is down 1 1/4 cents per bushel and May soybean meal is up $2.70. The Dow Jones Industrial Average is down 605.83 points and NASDAQ is down 177.56 points. Livestock contracts trade mixed heading into the day's initial start. Seeing that the feeder cattle market is trading fully lower could be a sign as to how the live cattle market could end up sometime later into Wednesday's trade.

(BE)

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