DTN's Quick Takes

By DTN Analysts

Grains

Posted 10:35 -- July corn is down 3 1/2 cents per bushel, July soybeans are down 3/4 cent per bushel. July KC wheat is down 1 cent per bushel, July Chicago wheat is down 17 cents per bushel and July Minneapolis wheat is up 1 3/4 cents. The Dow Jones Industrial Average is up 72.01 points at 38,311.67. The U.S. Dollar Index is down 0.230 at 105.71 and June crude oil is down $1.21 per barrel at $82.64. At mid-morning, Chicago wheat and bean oil futures are under heavy selling pressure, with only soymeal and Minneapolis wheat in the plus column. There is not a whole lot of news on Monday, but a better chance for some much-needed rain in southern Russia has led to some profit-taking in wheat.

Posted 08:43 -- July corn is down 3/4 cent per bushel, July soybeans are up 7 3/4 cents per bushel. July KC wheat is up 4 cents per bushel, July Chicago wheat is down 5 cents per bushel and July Minneapolis wheat is up 2 1/2 cents. The Dow Jones Industrial Average is up 130.17 points at 38,369.83. The U.S. Dollar Index is down 0.080 at 105.86 and June crude oil is down $0.32 per barrel at $83.53. Soybeans, soymeal and the two hard wheat markets are starting firmer on Monday while corn and bean oil are little changed. Weekend storms and severe weather across the Plains and Midwest, and the prospect for an active weather pattern to continue, are likely to stall fieldwork. There is a chance for much-needed rain in dry areas of the Black Sea, while the U.S. southern and western Plains could really use some.

Posted 19:06 (04/28) -- After the Sunday evening open, July corn is up 3/4 cent and July soybeans are up 1 1/4 cents after a weekend of widespread rains in the central and western Corn Belt, accompanied by severe weather and tornado damage in Nebraska, Iowa and Oklahoma. July KC wheat is up 1/2 cent and July Minneapolis wheat is down 6 1/2 cents. Isolated showers are expected in southwestern Russia Monday and Tuesday with more possible later this week. Outside markets are mostly quiet with several media sources reporting Ukrainian forces are retreating in eastern Ukraine. June crude oil is down 64 cents a barrel and Dow Jones futures are up 90 points. The U.S. Dollar Index is up 0.02 and June gold is down 10 cents.

Livestock

OMAHA (DTN) -- June live cattle are down $1.25 at $177.325, August feeder cattle are down $1.15 at $259.4, June lean hogs are up $0.15 at $102.625, July corn is down 3/4 cent per bushel and July soybean meal is up $7.80. The Dow Jones Industrial Average is up 117.64 points. Last week's negotiated cash cattle trade totaled 92,548 head. Of that 74% (68,496 head) were committed to the nearby delivery, while the remaining 26% (24,052 head) were committed to the deferred delivery.

Posted 08:39 -- June live cattle are up $0.30 at $178.875, August feeder cattle are up $0.85 at $261.4, June lean hogs are down $0.85 at $101.625, July corn is down 1 cent per bushel and July soybean meal is up $5.10. The Dow Jones Industrial Average is up 114.52 points. With the cash cattle market able to trade steady to $2.00 higher last week, seeing how packers got cattle committed in last week's market will be insightful as it could dictate how aggressive packers are in this week's market. Watching beef demand and the movement of boxes will be crucial again this week.

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