DTN's Quick Takes

By DTN Analysts

Grains

Posted 13:00 -- July corn is up 11 cents per bushel, July soybeans are up 29 cents, July KC wheat is up 8 3/4 cents, July Chicago wheat is up 12 1/4 cents and July Minneapolis wheat is up 17 3/4 cents. The Dow Jones Industrial Average is down 527.42 points and June crude oil is up $0.31 per barrel. The U.S. Dollar Index is down 0.090 and June gold is down $2.10 per ounce. The equities markets are melting down on inflationary fears, while grain and soybean markets look to end the day with impressive gains. Both May and July beans rose again to new contract highs, with May the highest we have seen in 8 1/2 years. Traders expect a mostly bullish WASDE on Wednesday.

Posted 10:31 -- July corn is up 17 cents per bushel, July soybeans are up 32 cents, July KC wheat is up 9 1/2 cents, July Chicago wheat is up 10 1/4 cents and July Minneapolis wheat is up 14 3/4 cents. The Dow Jones Industrial Average is down 461.80 points and June crude oil is up $0.18 per barrel. The U.S. Dollar Index is down 0.180 and June gold is down $6.10 per ounce. Well, that correction didn't last long! Monday's selling has quickly reversed, and corn and soybeans are again on a march higher. July soybeans have surged to a new contract high, soybean meal has made a decisive move higher and July corn is knocking on the door of the contract high as well. Bullish expectations for the May WASDE, and expanding drought in Brazil corn areas are reasons for strength.

Posted 08:33 -- July corn is up 12 1/2 cents per bushel, July soybeans are up 15 1/2 cents, July KC wheat is up 8 cents, July Chicago wheat is up 10 3/4 cents and July Minneapolis wheat is up 11 cents. The Dow Jones Industrial Average is down 261.63 points and June crude oil is down $0.89 per barrel. The U.S. Dollar Index is down 0.050 and June gold is down $17.30 per ounce. For the third consecutive day, China has showed up as a buyer of new crop corn: China bought another 680,000 mt (26.7 million bushels) of corn for 2021-22, bringing the three-day total to 3.060 mmt, or 120.4 million bushels of corn.

Livestock

OMAHA (DTN) -- June live cattle are up $0.40 at $118.625, August feeder cattle are up $0.15 at $148.85, June lean hogs are down $0.93 at $111.175, July corn is up 10 1/4 cents per bushel and July soybean meal is up $4.60. The Dow Jones Industrial Average is down 545.72 points and NASDAQ is down 36.61 points. The Texas Cash Pool was able to sell 292 head at $119.50 this week. Other packers offered $118.85 and $186 dressed FOB. There's been some cash cattle trade develop in Nebraska for $191, which is $2.00 higher than last week's average, but the cattle all are set for delivery for the weeks of 5/24/2021 and 6/7/2021.

Posted 11:36 -- June live cattle are up $0.13 at $118.35, August feeder cattle are down $0.25 at $148.45, June lean hogs are down $0.90 at $111.2, July corn is up 18 1/2 cents per bushel and July soybean meal is up $7.50. The Dow Jones Industrial Average is down 542.67 points and NASDAQ is down 59.38 points. The lean hog market is still trading lower even though the market's fundamentals are shining bright. With a little more time, traders may come around to the idea of supporting the complex as they see that demand isn't going anywhere soon.

Posted 10:30 -- June live cattle are down $0.38 at $117.85, August feeder cattle are down $0.58 at $148.125, June lean hogs are down $1.70 at $110.4, July corn is up 19 1/4 cents per bushel and July soybean meal is up $9.10. The Dow Jones Industrial Average is down 512.65 points and NASDAQ is down 85.52 points. Within a matter of minutes of the corn market taking back control of its trajectory and now rallying higher, the feeder cattle contracts are trading lower. The live cattle contracts are still trying to hold onto their modest rally and, with boxed beef prices being higher, they stand a fair chance at defending their higher trade. Asking prices of around $120 have been set in the South and the North has yet to share their asking prices.

Posted 08:33 -- June live cattle are up $0.23 at $118.45, August feeder cattle are up $0.05 at $148.75, June lean hogs are down $0.15 at $111.95, July corn is up 12 cents per bushel and July soybean meal is up $5.10. The Dow Jones Industrial Average is down 278.95 points and NASDAQ is down 283.46 points. Monday was a breath of fresh air for the cattle contracts and brought in some much-needed encouragement, as the complex has been fighting a stark lack of support for weeks on end. The cattle contracts are hopeful that the corn market continues to see a correction in its price and that lower cost of gains will allow cattlemen to see a stronger markets.

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