DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is down 10 1/4 cents per bushel, May soybeans are down 10 1/4 cents per bushel. May KC wheat is up 2 3/4 cents per bushel, May Chicago wheat is down 2 cents per bushel and May Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average is up 85.89 points at 41,519.37. The U.S. Dollar Index is up 0.190 at 103.48. April crude oil is up $1.46 per barrel at $67.71. As we approach the Wednesday close, wheat has bounced from the lows with KC now trading higher. Corn and soybeans continue to trade down sharply on tariff concerns. The latest trade spat is with the EU, which slapped a tariff on U.S. goods, including beans and corn, in reaction to the previously announced Trump tariffs on aluminum and steel. In a positive development, equities have clawed their way back to trade higher. The Dow Jones Index has traded in a wide 1,000-point range on Wednesday.

Posted 10:35 -- May corn is down 13 cents per bushel, May soybeans are down 16 cents per bushel. May KC wheat is down 3 1/2 cents per bushel, May Chicago wheat is down 6 1/4 cents per bushel and May Minneapolis wheat is down 7 cents. The Dow Jones Industrial Average is down 249.93 points at 41,183.55. The U.S. Dollar Index is up 0.160 at 103.45. April crude oil is up $1.32 per barrel at $67.57. At midmorning corn and soybeans are under very heavy selling pressure, no doubt in response to the EU decision to put retaliatory tariffs on a reported $28 billion worth of U.S. goods. The EU is an important customer when it comes to U.S. corn and soybeans. The tariffs are in retaliation for the Trump administration's 25% tariff on steel and aluminum that became effective Wednesday. Outside financial market pressure continues despite the moderating inflation numbers.

Posted 08:35 -- May corn is down 9 1/4 cents per bushel, May soybeans are down 8 1/4 cents per bushel. May KC wheat is down 3 1/4 cents per bushel, May Chicago wheat is down 2 3/4 cents per bushel and May Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average is up 233.87 points at 41,667.35. The U.S. Dollar Index is up 0.390 at 103.68. April crude oil is up $1.19 per barrel at $67.44. Grain and soy markets are lower early Wednesday with corn and beans under heavy pressure, while wheat has bounced from overnight lows. The markets continue to reflect uncertainty toward the impact and future direction of the tariffs. The downtrodden equities markets are getting a modest boost from the cooler inflationary numbers in Wednesday's CPI suggesting an annual inflation rate of 2.8% -- lower than expected.

Livestock

Posted 11:35 -- April live cattle are up $1.80 at $201.35, April feeder cattle are up $2.30 at $280., April lean hogs are down $0.58 at $85.975, May corn is down 10 3/4 cents per bushel and May soybean meal is down $1.70. The Dow Jones Industrial Average is down 30.09 points. The cattle contracts are rallying into Wednesday's noon hour as traders are pleased to see boxed beef prices trading higher again. A single bid of $200 has surfaced in Kansas, but otherwise the market hasn't seen any developments in the cash cattle complex.

Posted 08:38 -- April live cattle are up $1.20 at $200.75, April feeder cattle are up $1.45 at $279.15, April lean hogs are up $0.53 at $87.075, May corn is down 9 1/2 cents per bushel and May soybean meal is down $0.90. The Dow Jones Industrial Average is up 235.80 points. The livestock complex feels confident again to trade higher as it sees the equity markets open higher as well. Still no cash cattle trade has developed but asking prices are noted in the South at $202 plus.

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