DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is up 1/2 cent per bushel, May soybeans are down 3 1/4 cents per bushel. May KC wheat is down 2 1/4 cents per bushel, May Chicago wheat is down 2 cents per bushel and May Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average is up 75.73 points at 39,835.81 and The U.S. Dollar Index is up 0.070 at 104.42 and May crude oil is up $1.24 per barrel at $82.59. Wheat, soybeans, and products are a bit lower early Thursday, while corn is a bit firmer in quiet pre-report trade. Traders are expecting a bearish result in Thursday's USDA report and any bullish surprise could move the markets with the sizable fund short in each market.

Livestock

Posted 08:35 -- June live cattle are down $0.48 at $178.2, May feeder cattle are down $1.05 at $247.225, June lean hogs are down $0.45 at $101.15, May corn is up 1/2 cent per bushel and May soybean meal is down $1.70. The Dow Jones Industrial Average is up 84.68 points. Beef net sales of 12,700 mt for 2024 were up 15% from the previous week and 4% from the previous 4-week average. The three primary buyers were South Korea (3,400 mt), Japan (3,400 mt) and China (2,000 mt). Pork net sales of 55,300 mt for 2024 -- a marketing year high -- were up 64% from the previous week and 74% from the prior 4-week weighted average. The three primary buyers were Mexico (32,800 mt), Japan (5,700 mt) and Australia (5,400 mt).

(c) Copyright 2024 DTN, LLC. All rights reserved.