DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- May corn is up 6 3/4 cents per bushel, May soybeans are up 21 cents, July KC wheat is up 4 3/4 cents, July Chicago wheat is up 1 1/4 cents and July Minneapolis wheat is up 2 3/4 cents. The Dow Jones Industrial Average is down 147.63 points and May crude oil is up $0.23 per barrel. The U.S. Dollar Index is down 0.450 and June gold is down $9.00 per ounce. New crop corn and soybean futures are on the move higher, with both scoring new contract highs on Monday. Spot bean futures are also soaring, and within 8 cents of the contract high. Surging interior basis levels, along with weather issues in Brazil are impacting corn and soy, while dryness in the northern Plains and a freeze warning are supporting wheat markets.
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Posted 10:33 -- May corn is up 6 cents per bushel, May soybeans are up 14 cents, July KC wheat is up 5 3/4 cents, July Chicago wheat is up 2 cents and July Minneapolis wheat is up 2 3/4 cents. The Dow Jones Industrial Average is down 130.11 points and May crude oil is up $0.12 per barrel. The U.S. Dollar Index is down 0.460 and June gold is down $4.90 per ounce. Soybeans are starting to move higher, with spot May futures a half-cent from the high, while new crop November is within two cents of the contract high. Soybean meal is also making a nice move higher early on Monday.
Posted 08:36 -- May corn is up 8 cents per bushel, May soybeans are up 8 cents, July KC wheat is up 6 cents, July Chicago wheat is up 2 1/2 cents and July Minneapolis wheat is up 3 3/4 cents. The Dow Jones Industrial Average is down 75.64 points and May crude oil is up $0.17 per barrel. The U.S. Dollar Index is down 0.440 and June gold is down $7.20 per ounce. The strong weather and demand-driven rally continues, as spot corn futures near the high and new-crop December challenges the new contract high set in the overnight. Soybeans are also very firm to begin the new week.
Posted Sunday, April 18, at 7:09 p.m. -- After the Sunday evening open, July corn is up 6 1/2 cents, July soybeans are up 8 cents and July KC wheat is up 5 1/2 cents. The western and central U.S. Plains saw light, scattered precipitation over the weekend. It is a movement of lower temperatures in the northwestern Corn Belt Monday, spreading southward and eastward that will get attention this week, dampening planting enthusiasm and offering some threat to winter wheat crops. Central Brazil received beneficial rain over the weekend, but forecast amounts remain light for southern Brazil. Outside markets are slightly bearish. June Dow Jones futures are trading down 94 points and the June U.S. Dollar Index is up 0.07. June gold is down $2.60 and June crude oil is down $0.34 a barrel.
LivestockPosted 11:49 -- June live cattle are down $0.35 at $118.825, May feeder cattle are down $1.45 at $142.275, June lean hogs are up $3.20 at $104.9, May corn is up 5 1/4 cents per bushel and July soybean meal is up $5.50. The Dow Jones Industrial Average is down 176.92 points and NASDAQ is down 189.72 points. The stark differences between the cattle and hog futures continue into Monday afternoon. There's aren't many supportive signals aligning in favor of the cattle contracts. Meanwhile, support in the lean hog complex could solidify if pork cutout values close higher and if slaughter speeds are aggressive.
Posted 10:36 -- June live cattle are down $0.98 at $118.2, May feeder cattle are down $2.15 at $141.575, June lean hogs are up $2.33 at $104.025, May corn is up 5 3/4 cents per bushel and July soybean meal is up $4.90. The Dow Jones Industrial Average is down 138.64 points and NASDAQ is down 145.16 points. The cattle contracts are bearing lower, while the hog market floats into Monday's trade fully higher, inquiring no resistance at this point. Mildly higher corn prices and the uncertainty surrounding the cash cattle market seems to be the biggest concerns for the cattle contracts.
Posted 08:36 -- June live cattle are up $0.15 at $119.325, May feeder cattle are down $0.33 at $143.4, June lean hogs are down $0.08 at $101.625, May corn is up 8 cents per bushel and July soybean meal is up $2.60. The Dow Jones Industrial Average is down 76.77 points and NASDAQ is down 44.18 points. Following last week's downward-pressuring trade, livestock enthusiasts are hopeful that demand continues to shine and supports both beef and pork cuts, and that the corn market holds at least steady to avoid adding any more pressure to the feeder cattle contracts.
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