DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is down 11 1/2 cents per bushel, May soybeans are down 2 1/2 cents per bushel. May KC wheat is down 13 cents per bushel, May Chicago wheat is down 16 1/4 cents per bushel and May Minneapolis wheat is down 12 1/4 cents. The Dow Jones Industrial Average is up 287.83 points at 43,720.95. The U.S. Dollar Index is up 0.770 at 107.18. April crude oil is up $1.77 per barrel at $70.39. Funds have been unloading corn on Thursday and have been heavy sellers of wheat as well. The markets have plunged on slowing U.S. export demand, bearish USDA corn and wheat numbers and favorable weather in South America. Funds, who came into Thursday long an estimated 360,000 contracts of corn sent the market reeling by selling an estimated 20,000 contracts so far. The sharply higher acreage, record yield and production forecast by the USDA was a catalyst in Thursday's capitulation.

Posted 10:35 -- May corn is down 9 1/4 cents per bushel, May soybeans are up 3 1/4 cents per bushel. May KC wheat is down 16 1/4 cents per bushel, May Chicago wheat is down 16 3/4 cents per bushel and May Minneapolis wheat is down 12 3/4 cents. The Dow Jones Industrial Average is up 365.51 points at 43,798.63. The U.S. Dollar Index is up 0.810 at 107.22. April crude oil is up $1.28 per barrel at $69.90. Soybeans and bean oil have recovered to trade higher, while wheat and corn have extended losses at midmorning. I would assume the quicker start to tariffs on Mexico and Canada could be partly responsible for the weakness. The wheat markets have become very oversold, but there appears to be no bounce. I am unaware of any new information driving the markets, but corn is likely reacting to the higher acres, yield and production from the USDA's Ag Outlook Forum.

Posted 08:40 -- May corn is down 5 1/2 cents per bushel, May soybeans are up 3 1/4 cents per bushel. May KC wheat is down 8 3/4 cents per bushel, May Chicago wheat is down 9 3/4 cents per bushel and May Minneapolis wheat is down 5 cents. The Dow Jones Industrial Average is up 126.55 points at 43,559.67. The U.S. Dollar Index is up 0.660 at 107.08. April crude oil is up $1.23 per barrel at $69.85. Corn and wheat are fading fast with corn reacting to the USDA's rise in acres and record corn crop forecast. Soybeans and soymeal have now turned lower as well. The Trump administration is now reporting that Canada and Mexico tariffs will be imposed next week after saying that it would be April 2. They also slapped on an additional 10% tax on Chinese imports.

Livestock

Posted 11:40 -- April live cattle are up $1.75 at $196.375, March feeder cattle are up $2.53 at $276.9, April lean hogs are down $3.93 at $84.375, May corn is down 11 cents per bushel and May soybean meal is down $0.50. The Dow Jones Industrial Average is up 220.56 points. The cash cattle market still hasn't seen any cattle trade yet, but bids have surfaced in the South at $196. Asking prices are firm in the South at $200 to $201, but are still not known for the North.

Posted 08:36 -- April live cattle are up $0.43 at $195.05, March feeder cattle are up $0.90 at $275.275, April lean hogs are down $1.20 at $87.1, May corn is down 5 cents per bushel and May soybean meal is up $0.20. The Dow Jones Industrial Average is up 67.10 points. Beef net sales of 18,200 mt for 2025 were down 15% from the previous week, but up 4% from the prior 4-week average. The three largest buyers were South Korea (8,600 mt), Japan (2,500 mt) and China (1,800 mt). Pork net sales of 32,200 mt for 2025 were up 26% from the previous week but unchanged from the prior 4-week average. The three largest buyers were Mexico (13,300 mt), Japan (3,500 mt) and China (2,800 mt).

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