DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is up 1/2 cent per bushel, May soybeans are up 1/2 cent per bushel. May KC wheat is down 4 3/4 cents per bushel, May Chicago wheat is down 3 cents per bushel and May Minneapolis wheat is down 4 3/4 cents. The Dow Jones Industrial Average is down 682.93 points at 41,228.78. The U.S. Dollar Index is down 0.660 at 103.31. April crude oil is up $0.20 per barrel at $66.23. Just ahead of Tuesday's close corn and beans are barely holding onto small gains while wheat remains down on slightly bearish WASDE changes. Overhanging markets is the fear of additional tariffs and the ongoing meltdown in financial markets as traders begin to talk recession.

Posted 10:30 -- May corn is up 4 1/4 cents per bushel, May soybeans are up 2 3/4 cents per bushel. May KC wheat is down 3 3/4 cents per bushel, May Chicago wheat is down 2 cents per bushel and May Minneapolis wheat is down 6 3/4 cents. The Dow Jones Industrial Average is down 395.37 points at 41,516.34. The U.S. Dollar Index is down 0.550 at 103.42. April crude oil is up $0.92 per barrel at $66.95. At mid-morning, corn, soybeans and soybean oil are slightly firmer while all three wheat markets are setting back. The news of the day continues to be the escalating trade wars with the Trump administration announcing a doubling of tariffs on Canadian steel and aluminum imports. The March WASDE at 11 a.m. CDT is not expected to be a big market mover, but all eyes will be on any South American production changes and U.S. corn demand changes.

Posted 08:40 -- May corn is up 3 cents and May soybeans are up 5 1/4 cents. May KC wheat is down 3 1/2 cents, May Chicago wheat is down 4 1/2 cents, and May Minneapolis wheat is down 6 cents. April crude oil is up $0.85 and Dow Jones futures are down 144 points. The U.S. Dollar Index is down 0.59 and April gold is up $17.10. Traders have a few more hours of trade to finalize positions ahead of the USDA WASDE report release at 11 a.m. CDT. Thus far Tuesday, soybean and wheat markets are reversing Monday's price action while corn is attempting a fifth consecutive session higher.

Livestock

Posted 11:40 -- April live cattle are down $0.90 at $199.675, April feeder cattle are down $0.60 at $277.325, April lean hogs are down $1.40 at $86.9, May corn is up 2 1/2 cents per bushel and May soybean meal is up $0.70. The Dow Jones Industrial Average is down 573.23 points. Both the live cattle and lean hog markets are trading lower into Tuesday's noon hour, but if consumer demand continues to push boxed beef prices and pork cutout values higher, the contracts could improve on Wednesday. Still no cash cattle trade has developed.

Posted 08:37 -- April live cattle are up $0.20 at $200.775, April feeder cattle are up $1.83 at $279.75, April lean hogs are down $0.48 at $87.825, May corn is up 3 cents per bushel and May soybean meal is up $1.10. The Dow Jones Industrial Average is down 118.92 points. Southern asking prices are noted at $202 plus but are still not established in the North. Don't forget that this morning the monthly WASDE report will be released.

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