DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- As we near Tuesday's close, the soy complex continues to give ground with November soybeans down 10 1/4 cents and May soybean oil down 0.86 cent, on track for a new one-month low. May corn is down 1 cent as Tuesday's rains have moved into Iowa and Minnesota with severe weather and tornado watches in the region. May KC wheat is up 3 3/4 cents and May Minneapolis wheat is up 3/4 cent. June crude oil is down $0.19 and Dow Jones futures are up 27 points. The U.S. Dollar Index is up 0.27 and June gold is up $19.50. Earlier Tuesday, the U.S. Commerce department said housing starts fell 14.7% in March, following a 12.7% gain in March.

Posted 10:47 -- At midday Tuesday, May corn is up 1/2 cent, finding quiet support in its same trading range. May soybeans are down 7 cents with May soybean oil down a half-cent after NOPA estimated higher soybean oil stocks after a record crush in March. May KC wheat is up 2 cents after Kansas didn't get much rain from the latest storm. May Minneapolis wheat is up 3 1/2 cents. June crude oil is up $0.20 and Dow Jones futures are up 92 points. The U.S. Dollar Index is up 0.10 and June gold is up $18.80. According to RTTNews.com, the International Monetary Fund estimates world GDP growth at 3.2% in 2024 with a slightly lower level of global inflation.

Posted 08:40 -- After Tuesday's 8:30 a.m. CDT bell, May corn is down 2 cents and May soybeans are down 3 cents. Rain has been falling in the northwestern Plains overnight and will move slowly eastward the next two days. May KC wheat is down 1 1/4 cents and May Minneapolis wheat is up 1 3/4 cents. The southwestern Plains are experiencing windy conditions Tuesday with not much rain over Kansas. June crude oil is up $0.04 and Dow Jones futures are up 188 points. The U.S. Dollar Index is trading up 0.03 and remains elevated with traders showing concern about a possible retaliation from Israel, leading to an escalation of fighting in the Middle East. June gold is up $9.80.

Livestock

Posted 11:38 -- June live cattle are up $1.78 at $175.6, May feeder cattle are up $3.08 at $241.075, June lean hogs are up $0.18 at $102.625, May corn is steady and May soybean meal is steady. The Dow Jones Industrial Average is up 167.86 points. With the entire livestock complex trading higher into Tuesday's noon hour, the newly established technical support planes seem to be holding firm. Asking prices are noted in the South at $184 but have yet to be established in the North. Trade will likely be delayed until Thursday or Friday of this week.

Posted 08:36 -- June live cattle are down $0.10 at $173.725, May feeder cattle are up $0.08 at $238.075, June lean hogs are up $0.28 at $102.725, May corn is down 2 1/4 cents per bushel and May soybean meal is up $0.30. The Dow Jones Industrial Average is up 235.01 points. The cattle contracts are mixed to start Tuesday following the strong close Monday. Asking prices are noted in the South at $184 plus but have not yet been established in the North. Trade will likely be delayed until Thursday or Friday of this week.

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