DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is unchanged, May soybeans are down 6 1/4 cents per bushel. July KC wheat is down 6 cents per bushel, May Chicago wheat is down 10 1/4 cents per bushel and July Minneapolis wheat is down 7 1/4 cents. The Dow Jones Industrial Average is down 1,228.22 points at 37,914.01. The U.S. Dollar Index is down 0.960 at 98.42. June crude oil is down $1.58 per barrel at $62.43. Just 30 minutes from the close, corn is mixed to lower, and soybeans and wheat have accelerated losses. There are 4 to 5 days of mostly clear weather where some planting could get done before rain moves through over the weekend into the Delta and Midwest. There is some thought planting progress could come out higher than the 9% to 10% number the trade is looking for. Equities, energy and the dollar continue to plunge while gold makes new highs.

Posted 10:35 -- May corn is up 1 1/2 cents per bushel, May soybeans are down 5 cents per bushel. July KC wheat is down 4 cents per bushel, May Chicago wheat is down 6 3/4 cents per bushel and July Minneapolis wheat is down 3 3/4 cents. The Dow Jones Industrial Average is down 991.80 points at 38,150.43. The U.S. Dollar Index is down 0.980 at 98.40. June crude oil is down $1.72 per barrel at $62.29. At midmorning all ag markets but corn have faded to trade lower, while the meltdown in equities, energy and the U.S. Dollar continues. Gold futures have surged to a new high at over $3,400.

Posted 08:35 -- May corn is up 4 1/4 cents per bushel, May soybeans are up 1 cent per bushel. July KC wheat is up 4 3/4 cents per bushel, May Chicago wheat is up 2 3/4 cents per bushel and July Minneapolis wheat is up 3 1/4 cents. The Dow Jones Industrial Average is down 435.76 points at 38,706.47. The U.S. Dollar Index is down 1.020 at 98.36. June crude oil is down $1.76 per barrel at $62.25. Soybeans are unchanged, bean oil a bit lower and corn and wheat higher in quiet post-holiday trade. The lower U.S. Dollar Index is supportive for exports.

Posted 19:11 Sunday -- May corn is up 3 cents and May soybeans are up 7 1/4 cents. May Kansas City wheat is up 1 1/2 cents, May Chicago wheat is up 1 1/2 cents, and May Minneapolis wheat is up 1/2 cents. June crude oil is down $0.89 and Dow Jones futures are down 159 points. The U.S. Dollar Index is down 0.63 and June gold is up $32.70. Row crop markets are coming off a very slow, shortened trading week last week which saw rangebound trade for the most part with grains hitting chart resistance but also holding above immediate support as well through the week. Thus far for the new week, corn and soy markets are firmer while wheat trades mixed as the market works to sort out the impact of large amounts of rainfall in many eastern growing areas through April, with more chances stretching into the Western Corn Belt slated for the next week as well.

Livestock

Posted 11:35 -- June live cattle are up $2.00 at $204.075, May feeder cattle are up $2.45 at $286.85, June lean hogs are up $0.08 at $98.025, May corn is down 2 cents per bushel and May soybean meal is down $1.10. The Dow Jones Industrial Average is down 527.16 points. Although last week's fed cash cattle trade was surprisingly higher, traders are cautious to advance the cattle contracts Monday morning as the equity markets are lower. So once again here we sit -- waiting for time to solve the puzzle. New showlists appear to be mixed, higher in Texas, but lower in Kansas, and Nebraska/Colorado.

Posted 08:39 -- June live cattle are up $2.00 at $204.075, May feeder cattle are up $2.45 at $286.85, June lean hogs are up $0.08 at $98.025, May corn is down 2 cents per bushel and May soybean meal is down $1.10. The Dow Jones Industrial Average is down 527.16 points. The cattle complex seems more focused on last week's strong advancements in the cash cattle market as opposed to the neutral/slightly bearish Cattle on Feed report. If beef demand is strong again this week -- there's a chance that packers could need even more cattle.

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