DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is up 1/4 cent per bushel, May soybeans are down 2 1/2 cents per bushel. May KC wheat is down 10 cents per bushel, May Chicago wheat is down 9 1/2 cents per bushel and May Minneapolis wheat is down 8 1/2 cents. The Dow Jones Industrial Average is up 472.92 points at 42,458.27. The U.S. Dollar Index is up 0.300 at 104.39. May crude oil is up $0.69 per barrel at $68.97. Ahead of the Monday close, corn and bean oil have bounced to trade slightly higher while beans are off a few cents and wheat is down hard. Wheat weakness is in spite of what looks to be a mostly arid forecast for the dry Southern Plains hard winter areas.

Posted 10:35 -- May corn is down 1 1/4 cents per bushel, May soybeans are down 3 3/4 cents per bushel. May KC wheat is down 11 3/4 cents per bushel, May Chicago wheat is down 11 cents per bushel and May Minneapolis wheat is down 8 cents. The Dow Jones Industrial Average is up 541.77 points at 42,527.12. The U.S. Dollar Index is up 0.260 at 104.35. May crude oil is up $0.82 per barrel at $69.10. Trade is very quiet and all grain and soy markets are lower, with KC wheat leading the sell-off. There is no real news driving the losses other than weather. It is still too dry in the southwestern Plains into April, likely worsening wheat conditions.

Posted 08:38 -- May corn is down 3 1/4 cents per bushel, May soybeans are down 4 1/4 cents per bushel. May KC wheat is down 10 1/4 cents per bushel, May Chicago wheat is down 9 cents per bushel and May Minneapolis wheat is down 5 1/2 cents. The Dow Jones Industrial Average is up 331.02 points at 42,316.37. The U.S. Dollar Index is down 0.000 at 104.09. May crude oil is up $0.19 per barrel at $68.47. Grain and soy markets start off weaker with wheat leading the way down. A wetter outlook for Black Sea wheat regions is pressuring Paris milling wheat futures and that is spilling over. Otherwise, there is very little news early Monday.

Posted 19:09 Sunday -- May corn is up 1 1/4 cents, and May soybeans are up 1 3/4 cents. May KC wheat is up 5 cents, May Chicago wheat is up 3 3/4 cents, and May Minneapolis wheat is up 3 3/4 cents. May crude oil is up $0.17, and Dow Jones futures are up 212 points. The U.S. Dollar Index is down 0.04, and April gold is up $10. Grain markets are mostly firmer to start the new week's trade, led by wheat futures, which are undoubtedly finding buying attention as weather in the hard red growing areas remains persistently dry well into the start of the greening period. Corn bulls will attempt to find some follow-through on last week, in which May corn futures were able to post their first positive week since mid-February. Meanwhile, soybeans have been unable to shake South American harvest pressure, with every move toward $10.20 on the May contract being seen as a selling opportunity amongst traders currently.

Livestock

Posted 11:35 -- June live cattle are up $1.03 at $203.8, May feeder cattle are up $1.50 at $286.6, June lean hogs are down $1.38 at $96.1, May corn is up 1/2 cent per bushel and May soybean meal is down $2.30. The Dow Jones Industrial Average is up 489.04 points. Last week's negotiated cash cattle trade totaled 94,956 head; of that 88% (83,685 head) were committed to the market's nearby delivery, while the remaining 12% (11,271 head) were committed to the deferred delivery option.

Posted 08:39 -- June live cattle are up $0.35 at $203.125, May feeder cattle are up $0.85 at $285.95, June lean hogs are down $0.98 at $96.5, May corn is down 1 1/2 cents per bushel and May soybean meal is down $2.00. The Dow Jones Industrial Average is up 412.89 points. Following last Friday's bullish Cattle on Feed report, the cattle contracts are off to a strong start this week. It will be important to note exactly how many cattle were bought in last week's market as it will indicate how aggressive packers could be in this week's market.

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