DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is down 4 1/2 cents per bushel, May soybeans are down 3 3/4 cents per bushel. May KC wheat is up 1 1/2 cents per bushel, May Chicago wheat is down 1/4 cent per bushel and May Minneapolis wheat is up 1/4 cent. The Dow Jones Industrial Average is up 13.52 points at 41,966.84. The U.S. Dollar Index is up 0.210 at 104.06. May crude oil is up $0.31 per barrel at $68.38. At midday little has changed with corn, soybeans, and bean oil still lower while wheat is mixed to a bit firmer. Pressure in corn and beans is coming from the expanding South American harvest and a weaker corn market in Brazil. Funds have been modest sellers of corn, beans, and oil today.

Posted 10:35 -- May corn is down 5 3/4 cents per bushel, May soybeans are down 7 1/4 cents per bushel. May KC wheat is up 1 3/4 cents per bushel, May Chicago wheat is down 1 1/2 cents per bushel and May Minneapolis wheat is down 2 cents. The Dow Jones Industrial Average is down 235.88 points at 41,717.44. The U.S. Dollar Index is up 0.150 at 104.01. May crude oil is down $0.00 per barrel at $68.07. Corn, soybeans, and bean oil are under heavy pressure at midmorning, while wheat is a mixed bag, with only KC trading higher. Pressuring corn and soy is the advancing Argentine corn and Brazilian soybean harvests. Wheat is failing to move much higher despite the warm and dry pattern ahead for the arid Southern Plains.

Posted 08:40 -- May corn is down 2 1/4 cents per bushel, May soybeans are down 3 1/2 cents per bushel. May KC wheat is up 2 3/4 cents per bushel, May Chicago wheat is up 1 1/4 cents per bushel and May Minneapolis wheat is up 1/2 cent. The Dow Jones Industrial Average is down 328.69 points at 41,624.63. The U.S. Dollar Index is up 0.150 at 104.01. May crude oil is down $0.39 per barrel at $67.68. Corn, soybeans and soy products are under a bit of pressure early Friday while wheat is slightly higher in the warmer and drier trend ahead. There is little in the way of news to impact markets to end the week.

Livestock

Posted 11:40 -- June live cattle are down $0.40 at $204.625, May feeder cattle are down $1.80 at $287.3, April lean hogs are up $1.08 at $86.625, May corn is down 5 3/4 cents per bushel and May soybean meal is up $1.80. The Dow Jones Industrial Average is down 92.83 points. The fed cash cattle market has finally seen some trade begin to develop at $210 in the South, which is $7.00 higher than last week's weighted average, and at $212 to $214 in the North, which is $3.00 to $5.00 higher than last week's weighted average. The big line item that the market still has to hash over this afternoon is the monthly Cattle on Feed report, which is expected to report bullish numbers.

Posted 08:35 -- June live cattle are down $0.35 at $204.675, May feeder cattle are down $0.78 at $288.325, April lean hogs are up $0.28 at $85.825, May corn is down 1 3/4 cents per bushel and May soybean meal is up $0.10. The Dow Jones Industrial Average is down 465.23 points. As traders wait to see what's going to develop in this week's cash cattle market, the cattle contracts are trading lower. Asking prices in the South are noted at $208-plus but are still not known in the North. Don't forget that later this afternoon the monthly Cattle on Feed report will be released.

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