DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is down 10 1/4 cents per bushel, May soybeans are down 14 1/4 cents per bushel. May KC wheat is down 12 cents per bushel, May Chicago wheat is down 12 1/2 cents per bushel and May Minneapolis wheat is down 7 1/2 cents. The Dow Jones Industrial Average is down 512.64 points at 39,054.21 and the U.S. Dollar Index is down 0.210 at 104.81 and May crude oil is up $1.23 per barrel at $84.94. At midday it is a virtual sea of red as corn, wheat, soybeans, and soymeal are all down hard. Bean oil continues to be the lone exception. Outside market forces are likely playing a role, with the Dow Jones Index down more than 500 points, having gapped lower, and likewise for the S&P. Beneficial wetter weather ahead of the big planting push is the likely culprit for the weakness.

Posted 10:38 -- May corn is down 7 cents per bushel, May soybeans are down 1/4 cent per bushel. May KC wheat is down 9 1/2 cents per bushel, May Chicago wheat is down 9 cents per bushel and May Minneapolis wheat is down 3 3/4 cents. The Dow Jones Industrial Average is down 414.05 points at 39,152.80 and the U.S. Dollar Index is down 0.230 at 104.79 and May crude oil is up $1.48 per barrel at $85.19. Corn and wheat losses are expanding at midday, with soybeans close to unchanged and only soybean oil still strong. Minneapolis July wheat made another new contract low. Some pressure is likely coming from outside markets with the S&P and Dow Jones gapping lower early Tuesday and extending losses.

Posted 08:38 -- May corn is steady, May soybeans are up 4 3/4 cents per bushel. May KC wheat is up 4 1/2 cents per bushel, May Chicago wheat is up 3 3/4 cents per bushel and May Minneapolis wheat is up 3 1/2 cents. The Dow Jones Industrial Average is down 395.89 points at 39,170.96 and the U.S. Dollar Index is down 0.180 at 104.84 and May crude oil is up $1.06 per barrel at $84.77. In very quiet early trade, corn, soybeans and wheat are mixed to mostly firmer while soybean oil is sharply higher on strength in crude and other veg oils. There is very little in the way of fresh news to start. The soy harvest in Brazil is nearing 80% done. In the U.S. beneficial moisture has fallen and will fall from the Southern Plains through the Midwest and into the Ohio Valley ahead of planting.

Livestock

Posted 11:42 -- June live cattle is steady, May feeder cattle are up $0.08 at $242.75, June lean hogs are down $0.08 at $103.425, May corn is down 7 1/4 cents per bushel and May soybean meal is down $3.70. The Dow Jones Industrial Average is down 462.82 points. Near Tuesday noon, the livestock complex is trading mixed as traders would like to advance the market confidently but with there still being uncertainty lingering with the avian influenza outbreak, traders remain cautious. No cash cattle trade has developed at this point.

Posted 08:35 -- June live cattle are down $0.55 at $174.775, May feeder cattle are down $0.78 at $241.9, June lean hogs are down $0.53 at $102.975, May corn is down 1/2 cent per bushel and May soybean meal is down $0.80. The Dow Jones Industrial Average is down 369.29 points. Both the live cattle and feeder cattle markets are lower as the complex is still overwhelmed by the avian influenza news. Meanwhile the lean hog complex continues to trade higher as the market is rallying on strong demand.

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