DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is down 3 1/4 cents per bushel, July soybeans are steady. July KC wheat is up 19 cents per bushel, July Chicago wheat is up 14 cents per bushel and July Minneapolis wheat is up 14 cents. The Dow Jones Industrial Average is down 7.54 points at 38,496.15. The U.S. Dollar Index is up 0.180 at 105.85 and June crude oil is down $0.70 per barrel at $82.66. At midday, wheat is the bullish star, especially Kansas City wheat, reflecting dryness in both the southwestern Plains, with conditions sliding, and in major winter wheat areas of Russia and Ukraine. Beans are little changed, while both corn and bean oil are sliding lower with the fall in ethanol production and the falling crude oil market. Funds continue to lighten up their short wheat bet, having bought another 5,000 contracts of Chicago wheat by noon.

Posted 10:42 -- May corn is down 1 1/4 cents per bushel, July soybeans are up 5 1/2 cents per bushel. July KC wheat is up 10 1/4 cents per bushel, July Chicago wheat is up 5 1/4 cents per bushel and July Minneapolis wheat is up 6 1/4 cents. The Dow Jones Industrial Average is down 142.00 points at 38,361.69 and The U.S. Dollar Index is up 0.230 at 105.90 and June crude oil is down $0.23 per barrel at $83.13. Soybeans, soymeal, and wheat are all higher, with KC wheat off to the races -- higher for the fifth consecutive day. Drier outlooks for the southwestern Plains and southern Russia seem to be the reason for such strength. Corn is mixed to mostly lower and bean oil is slightly lower as crude oil prices are lower and ethanol production fell another 29,000 barrels per day last week to just 954,000 bpd.

Posted 08:37 -- May corn is up 3/4 cent per bushel, July soybeans are up 1/2 cent per bushel. July KC wheat is down 1/4 cent per bushel, July Chicago wheat is down 2 3/4 cents per bushel and July Minneapolis wheat is up 1 1/4 cents. The Dow Jones Industrial Average is down 57.18 points at 38,446.51. The U.S. Dollar Index is up 0.120 at 105.79 and June crude oil is down $0.51 per barrel at $82.85. Wheat, corn, and soybeans are all little changed to mostly firmer in quiet trade. KC spot wheat is again stronger on a drier outlook for the southwestern Plains and southern Russia wheat areas. Soybean oil is lower, influenced by the weaker palm and crude oil markets.

Livestock

Posted 11:38 -- June live cattle are down $1.90 at $175.25, August feeder cattle are down $2.80 at $256.6, June lean hogs are down $0.23 at $107.725, May corn is down 2 1/4 cents per bushel and July soybean meal is up $4.90. The Dow Jones Industrial Average is down 143.87 points. The cattle complex is trading lower on news the HPAI virus has been found in milk samples. The CDC still says human health risk to be low.

Posted 08:36 -- June live cattle are down $0.53 at $176.625, August feeder cattle are down $0.68 at $258.725, June lean hogs are down $0.75 at $107.2, May corn is up 1 1/4 cents per bushel and July soybean meal is up $2.40. The Dow Jones Industrial Average is down 54.35 points. The cattle complex is off to a lower start as traders are desperate for fundamental support in order to justify higher trade in the futures complex. Asking prices are noted in the South at $185 plus but remain unestablished in the North.

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