DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is down 1 1/2 cents per bushel, May soybeans are up 4 cents, May KC wheat is down 1 3/4 cents, May Chicago wheat is down 2 1/2 cents and May Minneapolis wheat is up 2 1/2 cents. The Dow Jones Industrial Average is down 485.99 points and April crude oil is up $2.42 per barrel. The U.S. Dollar Index is up 0.590 and April gold is down $20.20 per ounce. Wheat and corn continue to chop around unchanged to lower levels, while soybeans have given up much of the earlier gains and are now down 26 cents from the morning highs. Bean oil is still up sharply, but well below the highs even though crude oil is up nearly $3 per barrel as OPEC decided to keep production unchanged.

Posted 10:35 -- May corn is up 3 3/4 cents per bushel, May soybeans are up 24 3/4 cents, May KC wheat is up 4 1/4 cents, May Chicago wheat is up 4 cents and May Minneapolis wheat is up 3 3/4 cents. The Dow Jones Industrial Average is up 94.02 points and April crude oil is up $3.02 per barrel. The U.S. Dollar Index is up 0.080 and April gold is down $0.10 per ounce. Soybeans and soy oil are surging higher, with wheat and corn now having recovered from early weakness. Soybean oil seems to be pulled higher by crude oil on ideas of increased biodiesel usage. Bean oil values in China were sharply higher as well.

Posted 08:35 -- May corn is down 4 cents per bushel, May soybeans are up 4 3/4 cents, May KC wheat is down 1 1/2 cents, May Chicago wheat is down 5 1/2 cents and May Minneapolis wheat is down 3/4 cent. The Dow Jones Industrial Average is up 96.17 points and April crude oil is up $1.04 per barrel. The U.S. Dollar Index is up 0.170 and April gold is down $1.30 per ounce. Corn is leaking more following dismal corn exports last week of just 4.6 mb of corn and 12.3 mb of soybeans, as South America has taken the lead in exports of each commodity. Wheat is also under pressure as both Chicago and Kansas City threaten to fall below the key 50-day moving averages.

Livestock

Posted 11:24 -- April live cattle are down $0.08 at $119.325, April feeder cattle are down $0.83 at $140.475, April lean hogs are down $0.25 at $87.675, May corn is up 2 3/4 cents per bushel and May soybean meal is up $2.30. The Dow Jones Industrial Average is up 38.56 points and NASDAQ is down 48.79 points. The live cattle contracts would like to rally higher but that's somewhat hard to do when the cash cattle market is drifting lower. The livestock contracts were positively energized by Thursday's strong export report, but the market still has to weigh-out the current fundamental tones before it can jump to solely trading higher.

Posted 10:34 -- April live cattle are down $0.15 at $119.25, April feeder cattle are down $1.28 at $140.025, April lean hogs are down $0.08 at $87.85, May corn is up 3 1/4 cents per bushel and May soybean meal is up $1.40. The Dow Jones Industrial Average is up 35.89 points and NASDAQ is down 43.25 points. The livestock contracts are back to trading on shaky ground, even after the morning's fruitful export report. Bids of $114 and $180 have resurfaced in Iowa, and bids of $178 have developed in parts of eastern Nebraska.

Posted 08:35 -- April live cattle are down $0.18 at $119.225, April feeder cattle are down $0.30 at $141., April lean hogs are down $0.63 at $87.3, May corn is down 4 cents per bushel and May soybean meal is down $0.40. The Dow Jones Industrial Average is up 69.59 points and NASDAQ is down 10.70 points. Beef net sales of 22,600 mt reported for 2021 were up noticeably from the previous week and up 15% from the prior four-week average. The three primary increases were from South Korea (6,800 mt), China (2,400 mt) and Japan (3,800 mt). Pork net sales of 59,600 mt reported for 2021 were up noticeably from the previous week and up 68% from the prior four-week average. The three primary increases were from China (28,000 mt), Mexico (14,500 mt) and Japan (4,600 mt).

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