DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is steady, May soybeans are down 17 1/4 cents per bushel. May KC wheat is up 1 cent per bushel, May Chicago wheat is down 2 1/2 cents per bushel and May Minneapolis wheat is down 1/2 cent. The Dow Jones Industrial Average is down 1,259.41 points at 40,965.91. The U.S. Dollar Index is down 1.690 at 102.12. May crude oil is down $4.64 per barrel at $67.07. Going into the Thursday close, corn is little changed on nearby futures while beans and bean oil are the biggest losers of the day following the sharp increase in tariffs for China. Outside financial markets are still in the tank as fears of recession re-emerge.

Posted 10:38 -- May corn is up 1 3/4 cents per bushel, May soybeans are down 15 cents per bushel. May KC wheat is up 3 cents per bushel, May Chicago wheat is steady and May Minneapolis wheat is up 2 1/2 cents. The Dow Jones Industrial Average is down 1,384.47 points at 40,840.85. The U.S. Dollar Index is down 1.940 at 101.87. May crude oil is down $5.34 per barrel at $66.37. At midmorning corn, wheat and soymeal have recovered from the initial bearish tariff reaction to trade higher, while soybeans and beam oil are still under heavy pressure following the high tariffs on China. Energies, equities, and the dollar continue to crumble on increased recession fears.

Posted 08:35 -- May corn is down 5 3/4 cents per bushel, May soybeans are down 23 3/4 cents per bushel. May KC wheat is down 1 1/2 cents per bushel, May Chicago wheat is down 5 cents per bushel and May Minneapolis wheat is down 1/2 cent. The Dow Jones Industrial Average is down 1,151.58 points at 41,073.74. The U.S. Dollar Index is down 2.180 at 101.63. May crude oil is down $4.87 per barrel at $66.84. Risk-off is the phrase of the day as Wednesday's tariff announcement from the Trump administration has ag, equity and energy longs running for the hills. The reaction the next few days from those countries with increased tariffs will set the stage for future price movement.

Livestock

Posted 11:35 -- June live cattle are down $2.63 at $204.775, May feeder cattle are down $4.30 at $283.625, June lean hogs are down $1.00 at $95.525, May corn is up 2 1/4 cents per bushel and May soybean meal is up $2.00. The Dow Jones Industrial Average is down 1,123.92 points. Bids are now on the table in many areas of cattle feeding country, but they are being passed. Southern live bids are around $208, well below current asking prices of $212. Majors in Nebraska have bid $335, while a regional packer has bid $345, asking prices in the North have yet to be fully established. Beef cutouts are mixed at midday (choice 340.33 +0.43, select 318.81 -0.02) with light to moderate box movement (35 lds of choice cuts, 10 lds of select cuts, 00 lds of trim, and 07 lds of ground), with a choice/select spread of 21.52. Today's projected cattle slaughter is 122,000. Pork cutouts at midday are 93.57, -0.13, with 157.32 total loads. Today's project hog slaughter is 487,000.

Posted 08:38 -- June live cattle are down $2.38 at $205.025, May feeder cattle are down $2.85 at $285.075, June lean hogs are down $0.70 at $95.825, May corn is down 5 1/4 cents per bushel and May soybean meal is down $1.20. The Dow Jones Industrial Average is down 1,140.60 points. Cash cattle country is off to another slow start this morning, with bids very hard to find at this point, a few asking prices in the South are on the table at $212, but they are still not established in the North. According to the Export Sales Highlights Report for the period of March 21 to March 27, net beef sales of 9,300 MT for 2025 were up 16 percent from the previous week, but down 19 percent from the prior 4-week average. The top three increases were primarily for South Korea (3,400 MT), Japan (2,600 MT) and Hong Kong. The CME Feeder Index for April 01, 2025, was $0.25 higher at $291.27, the projected CME Lean Hog Index for April 01, 2025, was up $0.15 at $88.80.

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