DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Ahead of the USDA's Quarterly Stocks and Prospective Plantings reports, May corn is up 3 cents per bushel, May soybeans are down 8 1/4 cents, May KC wheat is up 5 1/4 cents, May Chicago wheat is up 3 3/4 cents and May Minneapolis wheat is up 2 3/4 cents. The Dow Jones Industrial Average is up 2.28 points and May crude oil is up $1.26 per barrel. The U.S. Dollar Index is up 0.080 and April gold is up $25.10 per ounce. Row crops have diverged since Thursday morning's open, with corn prices inching higher, while losses in soybeans have been extended. Wheat has returned to positive territory. Old crop export sales for the week ending March 21 were reported at 47.5 mb of corn, 9.7 mb of soybeans and 12.5 mb of wheat, while shipments of both corn and soybeans were above the volumes needed for the week to reach the latest USDA demand estimates.

Posted 08:37 -- 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).

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