DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is down 5 3/4 cents per bushel, May soybeans are down 5 cents per bushel. May KC wheat is up 1 1/4 cents per bushel, May Chicago wheat is up 2 3/4 cents per bushel and May Minneapolis wheat is up 4 3/4 cents. The Dow Jones Industrial Average is up 269.40 points at 39,551.73 and the U.S. Dollar Index is up 0.090 at 104.38 and May crude oil is down $0.36 per barrel at $81.26. At midday, corn, soybeans and bean oil continue to trade down while wheat and soymeal are mixed in quiet pre-report trade. Ethanol production rose 1% last week to a 3-week high 1.054 million barrels per day, with cumulative production for the marketing year up 4.4%. Crude oil stocks rose by 3.2 million barrels while expectations were for a 1.3 mb draw. It remains too dry for the southern Brazil safrinha corn areas for the next week.

Posted 10:39 -- May corn is down 3 3/4 cents per bushel, May soybeans are down 5 3/4 cents per bushel. May KC wheat is up 1/2 cent per bushel, May Chicago wheat is up 2 cents per bushel and May Minneapolis wheat is up 2 3/4 cents. The Dow Jones Industrial Average is up 227.46 points at 39,509.79. The U.S. Dollar Index is up 0.080 at 104.37 and May crude oil is down $0.03 per barrel at $81.59. At mid-morning, corn, soybeans and bean oil remain under heavy pressure, while the wheat market is mixed in quiet pre-report trade. Feed markets continue to be concerned about the implications for feed demand from the new avian flu discovery in dairy cattle in the southwest.

Posted 08:40 -- 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 11:40 -- June live cattle are down $0.68 at $177.7, May feeder cattle are down $0.33 at $246.925, June lean hogs are up $0.48 at $101.825, May corn is down 4 3/4 cents per bushel and May soybean meal is up $0.50. The Dow Jones Industrial Average is up 244.08 points. Bids of $184 to $185 are currently being offered in the South, while bids are being offered at $296 in the North. Still no cattle have traded and it's likely trade is delayed until Thursday.

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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