DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is up 3 3/4 cents per bushel, May soybeans are up 2 1/2 cents per bushel. May KC wheat is up 13 1/2 cents per bushel, May Chicago wheat is up 5 1/4 cents per bushel and May Minneapolis wheat is up 15 1/2 cents. The Dow Jones Industrial Average is down 77.29 points at 39,010.09 and the U.S. Dollar Index is down 0.050 at 103.81 and April crude oil is down $1.37 per barrel at $78.60. With 30 minutes left to go, all but bean oil futures are still higher, but corn, soybeans and soymeal are now well under the highs. Wheat markets are very firm as Paris futures have recovered a bit. More rumors of China buying Ukraine corn, and now Canadian canola, are circulating and they are also seeking more Brazil beans. Funds have been sizable buyers of corn and wheat.

Posted 10:35 -- May corn is up 5 1/2 cents per bushel, May soybeans are up 4 3/4 cents per bushel. May KC wheat is up 14 1/4 cents per bushel, May Chicago wheat is up 7 3/4 cents per bushel and May Minneapolis wheat is up 11 3/4 cents. The Dow Jones Industrial Average is down 98.42 points at 38,988.96, the U.S. Dollar Index is down 0.080 at 103.79, and April crude oil is down $0.54 per barrel at $79.43. Although off the highs, grain and soy markets are still trading in the green, with KC wheat now leading the way higher. May corn and soybean meal futures both tested the 20-day moving average only to set back from that benchmark. A rally and close above the $4.33 1/2 level on May corn and the $337.40 level in May soymeal would likely extend the rally.

Posted 08:35 -- May corn is up 3 1/4 cents per bushel, May soybeans are up 6 1/2 cents per bushel. May KC wheat is up 5 3/4 cents per bushel, May Chicago wheat is up 3 cents per bushel and May Minneapolis wheat is up 5 cents. The Dow Jones Industrial Average is down 153.59 points at 38,933.79 and the U.S. Dollar Index is down 0.010 at 103.85 and April crude oil is up $0.31 per barrel at $80.28. USDA announced two new sales: Sold 110,000 mt (4.3 mb) of corn for 2023-24 to Taiwan, and sold 126,000 mt of soybean cake and meal to unknown destinations of which only 30,000 mt is for 2023-24 and the balance for 2024-25. Grain and soy market start the new week off in bullish fashion, led by soybeans and KC wheat.

Posted 19:06 Sunday -- After the Sunday evening open, grain markets are off to a quiet start. March corn is down 1/4 cent and March soybeans are up 1 cent. Except for the state of Mato Grosso do Sul, the forecast looks promising for beneficial rain coverage in Brazil and Argentina the next two weeks, resulting in bearish weather factors from DTN to start the week. May KC wheat is down 3/4 cents and May Minneapolis wheat is up 1/4 cents. Red flag warnings remain a concern in the western Plains with chances for increased precipitation later this week. April crude oil is up $0.15 after OPEC said it would extend the current production levels through June, while Russia says it will cut over 1.2 million barrels per day of production from April through June. Dow Jones futures are down 42 points, the U.S. Dollar Index is down 0.04 and April gold is down $4.70.

Livestock

Posted 11:39 -- April live cattle are down $0.68 at $187.775, April feeder cattle are down $1.35 at $256.65, April lean hogs are down $1.23 at $86.85, May corn is up 3 1/2 cents per bushel and May soybean meal is up $0.70. The Dow Jones Industrial Average is down 39.76 points. Last week's negotiated cash cattle trade totaled 71,697 head. Of that 79% (56,501 head) were for nearby delivery, while the remaining 21% (15,196 head) were for deferred delivery.

Posted 08:38 -- April live cattle are down $0.18 at $188.275, April feeder cattle are down $0.03 at $257.975, April lean hogs are down $0.43 at $87.65, May corn is up 4 1/2 cents per bushel and May soybean meal is up $4.00. The Dow Jones Industrial Average is down 153.48 points. The livestock complex is trading mixed at Monday's start as the market looks for direction and support. Seeing exactly how many cattle traded last week in the cash cattle market will be a top priority Monday morning and it could indicate how aggressive packers will be this week in the market.

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