DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- After Tuesday's 8:30 a.m. CDT open, nearly the entire commodity board is starting green with U.S. stocks and bonds showing another break from interest rate worries, a risk-on start to the day. December corn is up 4 1/2 cents and November soybeans are up 16 1/4 cents after USDA said 20% of corn and 22% of soybeans were harvested as of Sunday. December KC wheat is up 18 3/4 cents and December Minneapolis wheat is up 14 1/2 cents. USDA said 40% of the winter wheat crop has been planted. There are light to moderate showers expected in the southwestern Plains this week, but the region needs much more. November crude oil is up $2.23 and Dow Jones futures are up 385 points. The U.S. Dollar Index is down 0.73 and December gold is up $14.60.

Livestock

Posted 08:35 -- December live cattle are up $0.28 at $148.3, November feeder cattle are up $0.25 at $176.3, December lean hogs are up $0.50 at $78.225, December corn is up 3 cents per bushel and December soybean meal is up $2.30. The Dow Jones Industrial Average is up 400.52 points. The entire livestock complex is again trading higher Tuesday morning, showing that the market is indeed ready to rebound from last week's deterioration. Asking prices in the South are noted at $145, and the North has yet to disclose their asking price, but feedlots are expected to price all cattle higher this week.

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