DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is up 2 cents per bushel, May soybeans are up 8 1/2 cents, May KC wheat is down 3 3/4 cents, May Chicago wheat is down 4 3/4 cents and May Minneapolis wheat is down 4 1/2 cents. The Dow Jones Industrial Average is up 596.58 points and April crude oil is down $1.13 per barrel. The U.S. Dollar Index is up 0.330 and April gold is down $20.10 per ounce. Soybeans and oil continue to remain firm on tightening supplies and concern over South American weather. However, soybeans have now fallen 22 cents from the early morning high. Funds have been buyers of beans and oil. Heavy rains in some primary Brazilian crop areas, and the extended warm and dry forecast in Argentina, are surely affecting yield potential in both countries.

Posted 10:38 -- May corn is down 2 cents per bushel, May soybeans are up 14 1/4 cents, May KC wheat is down 7 1/4 cents, May Chicago wheat is down 5 1/2 cents and May Minneapolis wheat is down 3 cents. The Dow Jones Industrial Average is up 474.59 points and April crude oil is down $0.45 per barrel. The U.S. Dollar Index is up 0.350 and April gold is down $20.80 per ounce. Soybeans and soybean oil continue to trade sharply higher on bullish South American weather and tightening veg oil stocks. Corn has traded both sides of unchanged, and all three wheat markets are being pressured by favorable EU and Black Sea crop conditions and some decent rain headed for the southern Plains.

Posted 08:34 -- May corn is up 1 1/4 cents per bushel, May soybeans are up 10 3/4 cents, May KC wheat is down 1/4 cent, May Chicago wheat is up 1 3/4 cents and May Minneapolis wheat is up 3/4 cent. The Dow Jones Industrial Average is up 152.83 points and April crude oil is down $0.35 per barrel. The U.S. Dollar Index is up 0.240 and April gold is down $7.60 per ounce. Oilseeds continue to lead the way higher with soybeans, bean oil, palm oil and canola all scoring new highs on Monday. Weather in South America is still the number one story with just 35% of Brazil's soy harvest complete and 54% of safrinha corn planted, according to Ag Rural. Both are well behind the average pace.

03/07 19:13 -- After the Sunday evening open, May corn is up 5 3/4 cents, May soybeans are up 17 3/4 cents and May Kansas City wheat is up 7 3/4 cents. Central Brazil had more scattered showers during the weekend, but there continues to be room for harvest progress. Expected rain amounts remain light for southern Brazil and Argentina, but western Argentina has chances for more moderate amounts this week. Outside markets are supportive early for commodities with Dow Jones futures trading up 149 points after the $1.9 trillion stimulus bill passed Saturday. The March U.S. Dollar Index is down 0.09. April gold is up $7.70 and April crude oil is up $1.42 a barrel. Reuters reported Iran-backed Houthi rebels in Yemen attacked Saudi oil facilities and military bases early Sunday.

Livestock

Posted 11:28 -- April live cattle are up $0.45 at $119.475, April feeder cattle are up $1.00 at $140.025, April lean hogs are down $0.25 at $86.925, May corn is up 1/4 cent per bushel and May soybean meal is up $1.00. The Dow Jones Industrial Average is up 503.78 points and NASDAQ is down 101.71 points. As the week gets underway, the live cattle and feeder cattle contracts are enjoying the market's support while the lean hog market is still trying to find stable footing around the market's indecisiveness. As the future market takes an overall supported leap into Monday's trade, the countryside remains intense, itching to see if feedlots can break the cash cattle market's stagnant trade.

Posted 10:40 -- April live cattle are up $0.30 at $119.325, April feeder cattle are up $0.65 at $139.675, April lean hogs are down $0.18 at $87.00, May corn is down 2 1/4 cents per bushel and May soybean meal is up $1.50. The Dow Jones Industrial Average is up 464.02 points and NASDAQ is down 13.18 points. Rolling into Monday's trade the livestock contracts are finding their footing in the week's business after last week's mixed trade. The livestock contracts have been met with modest support while the lean hog market is still unsure of its nearby outcome.

Posted 08:38 -- April live cattle are up $0.05 at $119.075, April feeder cattle are down $0.20 at $138.825, April lean hogs are down $0.40 at $86.775, May corn is up 1 cent per bushel and May soybean meal is up $1.30. The Dow Jones Industrial Average is up 168.79 points and NASDAQ is down 10.42 points. Diving into a new week, the market's focus will once again be on the live cattle and lean hog markets. The live cattle market will continue to be pressured from packers but desperately needs to strengthen its cash position. The lean hog contracts will try to keep the mixed support that held last week, but technical pressures could be the demise of the market's rally.

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