DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- May corn is up 4 1/4 cents and May soybeans are up 15 cents. May KC wheat is up 13 3/4 cents and May Minneapolis wheat is up 14 cents. April crude oil is up $3.33 and Dow Jones futures are up 250 points. The U.S. Dollar Index is down 0.23 and April gold is down $29.50. The grain and soy markets are all higher in unison Monday, led by KC wheat, soybeans and soybean oil. Fund liquidation has surely slowed in corn and soy, and fund short-covering is happening in wheat. KC May wheat appears headed for a close well above the 50-day moving average.
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Posted 10:33 -- May corn is down 3/4 cents and May soybeans are up 8 1/2 cents. May KC wheat is up 12 1/2 cents and May Minneapolis wheat is up 15 cents. April crude oil is up $1.42 and Dow Jones futures are up 180 points. The U.S. Dollar Index is down 0.11 and April gold is down $27.20. KC and Minneapolis wheat are flying higher, along with soybeans and bean oil, while corn and soymeal are just down slightly. There is little in the way of news to talk about to begin the week.
Posted 08:37 -- May corn is unchanged and May soybeans are down 2 cents. May KC wheat is up 4 3/4 cents and May Minneapolis wheat is up 7 cents. April crude oil is up $1.08 and Dow Jones futures are up 300 points. The U.S. Dollar Index is down 0.19 and April gold is down $33.30. In quiet trade to start the new week, only wheat is firmer to start. There is little news to drive markets to begin the week ahead of the Friday USDA report. USDA announced another new corn sale, this time to unknown destinations -- a sale of 112,800 mt (4.4 mb) for 2022-23.
Posted Sunday, March 26, at 7:03 p.m. CDT-- After the Sunday evening open, crop prices are mixed. May corn is down 1 cent and May soybeans are up 1 1/4 cents. The seven-day forecast expects moderate precipitation in the central and eastern Midwest this week and only light amounts in the western Plains. The Northern Plains will remain on the cold side this week with limited chances for melting snow. May KC wheat is down 2 1/4 cents and May Minneapolis wheat is down 1 3/4 cents. Severe storms continue to move across the Deep South after tornadoes claimed at least 25 lives in Mississippi over the weekend. May crude oil is up $0.33 and Dow Jones futures are up 160 points. The U.S. Dollar Index is down 0.09 and April gold is down $5.80. Traders will continue to keep watch for news from the banking sector this week.
LivestockPosted 11:42 -- June live cattle are up $1.78 at $158.375, May feeder cattle are up $3.60 at $201.15, June lean hogs are up $2.73 at $94.15, May corn is up 4 cents per bushel and May soybean meal is down $1.00. The Dow Jones Industrial Average is up 234.07 points. The livestock complex is trading higher as traders have dived into all three of the livestock markets aggressively Monday morning. The corn complex is trading higher too, but, at this point, that isn't affecting the momentum in the livestock complex.
Posted 08:35 -- June live cattle are up $0.55 at $157.15, May feeder cattle are up $1.25 at $198.8, June lean hogs are up $0.33 at $91.75, May corn is down 3 cents per bushel and May soybean meal is down $1.90. The Dow Jones Industrial Average is up 251.49 points. The livestock complex is off to a strong start as all three of the markets are trading higher. It will be interesting to see how the cattle bought last week through the cash cattle market were committed on the midmorning report.
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