DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

Illustration by Nick Scalise

Grains

OMAHA (DTN) -- May corn is up 5 1/4 cents per bushel, May soybeans are up 1 1/2 cents, May KC wheat is down 5 1/2 cents, May Chicago wheat is down 8 cents and May Minneapolis wheat is down 1/2 cent. The Dow Jones Industrial Average is up 1,581.18 points and May crude oil is up $0.03 per barrel. The U.S. dollar index is down 0.460 and April gold is up $89.90 per ounce. Corn and soybeans have rallied, reportedly on some positive talk regarding the acceleration of China phase-one buying from USDA and trade representatives. There is also talk of China changing anti-dumping fees for DDGs. Equities continue to remain sharply higher as the coronavirus Senate package moves closer to approval.

Posted 10:37 -- May corn is down 2 1/4 cents per bushel, May soybeans are down 5 1/4 cents, May KC wheat is down 6 1/2 cents, May Chicago wheat is down 7 1/4 cents and May Minneapolis wheat is down 3 1/4 cents. The Dow Jones Industrial Average is up 1,424.70 points and May crude oil is down $0.03 per barrel. The U.S. dollar index is down 0.690 and April gold is up $78.20 per ounce. Grains and soybeans are correcting after the recent sharp rally in both wheat and the soy complex. There appears to be a lesser chance for Argentine strikes in the short term. Equities and energy continue to recover on Federal Reserve efforts to support financial markets and a better chance to approve the support package by congress later Tuesday.

Posted 08:34 --May corn is down 4 1/4 cents per bushel, May soybeans are down 8 1/4 cents, May KC wheat is down 7 3/4 cents, May Chicago wheat is down 11 1/2 cents and May Minneapolis wheat is down 6 3/4 cents. The Dow Jones Industrial Average is up 1,082.56 points and May crude oil is up $0.99 per barrel. The U.S. dollar index is down 1.030 and April gold is up $104.20 per ounce. Plans for another Senate vote Tuesday on a $2 Trillion stimulus package, which is reported to be closer to approval, along with a perceived slowing of Italy's infection rate and a promise from the Federal Reserve to add liquidity into financial markets, is giving equity and energy markets a boost to start the day. However, soybeans and wheat, which have been on a nice rally, are setting back early.

Livestock

Posted 11:33 -- June live cattle are up $4.50 at $97.025, May feeder cattle are up $6.75 at $129.5, June lean hogs are up $2.00 at $72.95, May corn is up 4 3/4 cents per bushel and May soybean meal is down $1.30. The Dow Jones Industrial Average is up 1,710.23 points and NASDAQ is up 483.66 points. As time progresses into the noon hour, cattle contracts are holding their ground and pushing almost the entire complex to limit higher prices. Thus far, the complex is seeming to have broken free from the one-day higher, one-day lower trend. If the day is able to continue as it's trending, cash prices are sitting in a better position.

Posted 10:37 -- June live cattle are up $4.50 at $97.025, May feeder cattle are up $6.75 at $129.5, June lean hogs are up $1.93 at $72.875, May corn is down 2 1/2 cents per bushel and May soybean meal is down $2.20. The Dow Jones Industrial Average is up 1,468.03 points and NASDAQ is up 427.56 points. For Wednesday's Fed Cattle Exchange there is another large offering -- 5,886 head of cattle consigned with pens from Nebraska, Oklahoma, Kansas, Colorado and Texas. There's even blend of cattle that are committed with one-to-nine day delivery and the other half with one-to-seventeen day delivery.

Posted 08:35 -- June live cattle are up $4.50 at $97.025, May feeder cattle are up $6.75 at $129.5, June lean hogs are up $1.65 at $72.6, May corn is down 4 1/2 cents per bushel and May soybean meal is down $5.70. The Dow Jones Industrial Average is up 1,137.50 points and NASDAQ is up 355.75 points. Tuesday has opened cattle contracts up to expanded limits and the complex wasted no time jumping to the day's limit in most contracts. Now it will interesting to see if the day can hold onto the same vigor in which it's rallying Tuesday morning.

(BE)