DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is down 1 1/4 cents per bushel, May soybeans are up 1 1/4 cents, May KC wheat is down 4 1/4 cents, May Chicago wheat is down 3/4 cent and May Minneapolis wheat is down 3 cents. The Dow Jones Industrial Average is up 96.99 points and April crude oil is up $0.09 per barrel. The U.S. Dollar Index is up 0.240 and April gold is down $21.20 per ounce. Brazil's official Conab estimates released today include a reduction in their estimate for soybean production to 146.9 mmt and corn production to 112.7 mmt, below the USDA's recent March WASDE estimates of 155 mmt and 124 mmt, respectively, and supportive for row crop prices. February inflation was reported at 3.2% year-over-year, higher than expected, supportive for the U.S. dollar trade and bearish for commodity and equity prices.

Livestock

Posted 08:36 -- April live cattle are up $0.45 at $188.05, April feeder cattle are up $0.48 at $253.575, April lean hogs are up $0.20 at $83.475, May corn is down 1 cent per bushel and May soybean meal is up $0.50. The Dow Jones Industrial Average is up 103.19 points. The livestock complex is trading mixed at Tuesday's start as traders hope to find better fundamental support in the market. No business has developed in the cash market, and it's likely that trade is delayed until the second half of the week.

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