DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- July corn is up 1 1/2 cents per bushel, July soybeans are down 9 1/2 cents per bushel. July KC wheat is up 3 3/4 cents per bushel, July Chicago wheat is up 5 3/4 cents per bushel and July Minneapolis wheat is up 6 3/4 cents. The Dow Jones Industrial Average is down 455.01 points at 38,005.91. The U.S. Dollar Index is up 0.100 at 105.96 and June crude oil is up $0.25 per barrel at $83.06. Soybeans and soymeal are setting back early Thursday. Soybean sales of just 7.7 mb were dismal, while corn exports and shipments remained solid. Wheat continues to firm up for the sixth straight day over fund short covering and global weather issues. Some pressure is coming from liquidation ahead of the May first notice day for delivery, and from outside markets with equities melting down.

Livestock

Posted 08:36 -- June live cattle are down $0.58 at $174.675, August feeder cattle are down $1.13 at $255.175, June lean hogs are down $1.55 at $105.9, July corn is up 1 1/4 cents per bushel and July soybean meal is down $3.60. The Dow Jones Industrial Average is down 502.15 points. Beef net sales of 15,200 mt for 2024 were down 14% from the previous week and 3% from the prior 4-week average. The three largest buyers were China (4,600 mt), Japan (2,500 mt) and Canada (2,000 mt). Pork net sales of 28,800 mt for 2024 were up 32% from the previous week, but down 25% from the prior 4-week average. The three largest buyers were Mexico (11,300 mt), Japan (4,200 mt) and South Korea (3,300 mt).

(c) Copyright 2024 DTN, LLC. All rights reserved.