DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is down 4 1/4 cents per bushel, May soybeans are down 8 1/4 cents per bushel. May KC wheat is down 3/4 cent per bushel, May Chicago wheat is up 3/4 cent per bushel and May Minneapolis wheat is up 1 3/4 cents. The Dow Jones Industrial Average is up 276.60 points at 39,558.93. The U.S. Dollar Index is up 0.140 at 104.43 and May crude oil is down $0.22 per barrel at $81.40. Corn, soybeans, and soybean oil are under pressure early on Wednesday while wheat is mixed in quiet trade. Thursday promises to be a potentially volatile day with the USDA stocks and seeding report, month- and quarter-end ahead of a long holiday weekend. We could see some corn and soy short covering ahead of the report by day's end.

Livestock

Posted 08:38 -- June live cattle are up $0.33 at $178.7, May feeder cattle are down $0.08 at $247.175, June lean hogs are up $0.58 at $101.925, May corn is down 4 1/2 cents per bushel and May soybean meal is down $0.60. The Dow Jones Industrial Average is up 275.18 points. Following Tuesday's sharply lower trade, both the live cattle and feeder cattle markets are back to trading higher. Still no cash cattle trade has developed, but packer interest should improve throughout the day.

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