DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is up 3 3/4 cents per bushel, May soybeans are down 7 1/4 cents per bushel. May KC wheat is up 8 1/2 cents per bushel, May Chicago wheat is up 9 1/2 cents per bushel and May Minneapolis wheat is up 12 1/4 cents. The Dow Jones Industrial Average is up 59.82 points at 41,643.72. The U.S. Dollar Index is up 0.170 at 104.21. May crude oil is up $2.13 per barrel at $71.49. As we approach the Monday close, the much higher-than-expected corn acres have had little impact on new-crop corn futures, which would likely mean traders were erring on the high side. Wheat is reacting to an acreage number that turned out to be about 800,000 acres below expectations.

Posted 10:35 -- May corn is down 4 cents per bushel, May soybeans are up 6 1/2 cents per bushel. May KC wheat is up 3 1/4 cents per bushel, May Chicago wheat is steady and May Minneapolis wheat is up 3 1/2 cents. The Dow Jones Industrial Average is up 43.38 points at 41,627.28. The U.S. Dollar Index is up 0.140 at 104.18. May crude oil is up $1.83 per barrel at $71.19. It appears that the grain inspection report is not yet available. At mid-morning, wheat is mixed, corn is making new lows and soybeans and soymeal are firm. The March report is typically a big market-mover, as there are often acreage surprises.

Posted 08:37 -- May corn is down 1/2 cent per bushel, May soybeans are up 5 3/4 cents per bushel. May KC wheat is up 1 1/2 cents per bushel, May Chicago wheat is up 1 cent per bushel and May Minneapolis wheat is up 1 cent. The Dow Jones Industrial Average is down 297.46 points at 41,286.44. The U.S. Dollar Index is up 0.050 at 104.09. May crude oil is up $0.41 per barrel at $69.77. Wheat and corn are mixed and soybeans firmer in quiet trade ahead of the 11 a.m. CT release of the USDA March Grain Stocks and Prospective Plantings report where a sharp rise in corn and fall in soy area is anticipated. Pressure is coming from Wednesday's anticipated reciprocal tariffs and sharp slide in equities.

Posted 19:06 Sunday -- May corn is down 1 3/4 cents and May soybeans are down 1 1/4 cents. May KC wheat is down 2 cents, May Chicago wheat is down 1 1/2 cents, and May Minneapolis wheat is unchanged. May crude oil is up $0.10 and Dow Jones futures are down 180 points. The U.S. Dollar Index is down 0.03 and June gold is up $8.20. Grain markets are slightly lower to begin the new week as traders work to finalize their positions ahead of the Monday release of both the Prospective Plantings and quarterly Grain Stocks reports from the USDA. Markets are coming off a very turbulent Friday session which saw corn and soy markets recover from sharp early session losses to trade higher by the close, meanwhile wheat markets continue to struggle to find footing but are very near to what could be long-term support just above contract lows. Expect choppy trade to continue ahead of USDA direction Monday.

Livestock

Posted 11:46 -- June live cattle are down $1.38 at $203.47, May feeder cattle are down $1.08 at $284.41, June lean hogs are up $0.28 at $96.05, May corn is up 5 ¾ cents per bushel and May soybean meal is up $0.30. The Dow Jones Industrial Average is up 111.39. The livestock complex is mixed as traders are unwilling to be too supportive of the cattle complex early this week, but are willing to mildly push the lean hog complex higher amid strong pork cutout values. New showlists appear to be mixed, higher in Kansas, somewhat smaller in Texas and lower in Nebraska/Colorado.

Posted 08:38 -- June live cattle are down $1.10 at $203.75, May feeder cattle are down $1.45 at $283.725, June lean hogs are down $0.75 at $95.025, May corn is down 1 3/4 cents per bushel and May soybean meal is up $2.50. The Dow Jones Industrial Average is down 316.88 points. The livestock complex is off to a weaker start at Monday's open as traders again long to see furthered fundamental support before they advance the contracts. It will be vital to see exactly how many cattle were purchased last week in the fed cash cattle market as that will dictate how aggressive packers will be in this week's market.

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