DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- May corn is down 5 cents per bushel, May soybeans are down 6 3/4 cents per bushel. May KC wheat is down 8 3/4 cents per bushel, May Chicago wheat is down 8 1/4 cents per bushel and May Minneapolis wheat is down 1 1/4 cents. The Dow Jones Industrial Average is down 141.23 points at 38,751.57. The U.S. Dollar Index is steady at 104.14 and May crude oil is down $1.15 per barrel at $85.28. As we approach the close, the corn, wheat and soy complex are all down for the day with very little news driving values on Tuesday, with KC wheat leading the way down. Despite forecasts which call for warming temperatures and a lack of rain for the dry western and Southern Plains, winter wheat conditions remain the best in the past four years. Clearing and warmer weather in the Corn Belt should allow some corn and soy planting to move ahead.
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Posted 10:34 -- May corn is down 3/4 cent per bushel, May soybeans are down 1/4 cent per bushel. May KC wheat is down 6 1/2 cents per bushel, May Chicago wheat is down 2 1/4 cents per bushel and May Minneapolis wheat is down 4 3/4 cents. The Dow Jones Industrial Average is down 205.20 points at 38,687.60 and the U.S. Dollar Index is down 0.010 at 104.14 and May crude oil is down $0.77 per barrel at $85.66. The color red has so far covered ag quote screens, with corn, wheat, soybeans and bean oil all slightly lower in quiet trade with a lack of news; but corn and beans are trying to get back to unchanged. Better planting weather ahead for corn and soy, and the unchanged and favorable wheat condition, the best since 2020, are pressuring markets at midmorning.
Posted 08:38 -- May corn is down 2 cents per bushel, May soybeans are down 5 1/2 cents per bushel. May KC wheat is down 11 1/2 cents per bushel, May Chicago wheat is down 10 cents per bushel and May Minneapolis wheat is down 8 3/4 cents. The Dow Jones Industrial Average is up 94.08 points at 38,986.88 and the U.S. Dollar Index is down 0.260 at 103.88 and May crude oil is down $0.00 per barrel at $86.43. Wheat and soy markets are under heavy selling pressure early on beneficial weather and steady crop ratings for wheat. While the weather is active this week, especially in the Delta and Southeast, the next few weeks promises a warmer and drier trend to accelerate planting progress.
Livestock
Posted 11:32 -- June live cattle are up $1.25 at $174.575, May feeder cattle are up $1.80 at $238.975, June lean hogs are up $0.13 at $108.05, May corn is down 3 1/4 cents per bushel and May soybean meal is down $1.00. The Dow Jones Industrial Average is down 119.08 points. Traders seem to be regaining some confidence as they're advancing all three of the livestock contracts into Tuesday's noon hour. No business has developed yet in the cash cattle complex and won't likely until Thursday or Friday.
Posted 08:38 -- June live cattle are up $0.23 at $173.55, May feeder cattle are down $0.10 at $237.075, June lean hogs are up $0.43 at $108.35, May corn is down 1 3/4 cents per bushel and May soybean meal is down $1.60. The Dow Jones Industrial Average is up 79.32 points. The livestock complex is mostly higher as traders again attempt to regain some position following last week's poor performance. The feeder cattle market remains the weakest link in the livestock complex but could potentially trade higher if the live cattle market lends support by trading higher.
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