DTN's Quick Takes
Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- May corn is down 6 1/4 cents per bushel, May soybeans are up 7 cents per bushel. July KC wheat is down 4 3/4 cents per bushel, July Chicago wheat is down 2 1/2 cents per bushel and July Minneapolis wheat is down 3 3/4 cents. The Dow Jones Industrial Average is up 655.84 points at 38,826.25. The U.S. Dollar Index is up 0.470 at 98.74. June crude oil is up $1.43 per barrel at $63.84. Headed to the close, both corn and wheat remain under heavy selling pressure while soybean futures are the only one trading in the black. Good planting weather for corn, an above average pace, and rain headed for hard winter wheat country are weighing on grains.
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Posted 10:35 -- May corn is down 2 1/2 cents per bushel, May soybeans are up 8 1/4 cents per bushel. July KC wheat is down 2 3/4 cents per bushel, July Chicago wheat is up 3/4 cent per bushel and July Minneapolis wheat is down 1 cent. The Dow Jones Industrial Average is up 811.72 points at 38,982.13. The U.S. Dollar Index is up 0.210 at 98.48. June crude oil is up $1.48 per barrel at $63.89. At midmorning, corn and wheat remain down, bean oil futures have turned negative and soybeans and meal are just modestly higher. There is very little news other than positive comments regarding trade deals with India and Japan.
Posted 08:35 -- May corn is down 3 cents per bushel, May soybeans are up 3 3/4 cents per bushel. July KC wheat is down 4 1/4 cents per bushel, July Chicago wheat is down 6 1/2 cents per bushel and July Minneapolis wheat is down 3 cents. The Dow Jones Industrial Average is up 404.01 points at 38,574.42. The U.S. Dollar Index is up 0.350 at 98.62. June crude oil is up $0.75 per barrel at $63.16. The soy complex is firm to start, while corn and wheat are under pressure. Good planting progress on corn and rain headed for hard winter wheat areas are weighing on values. News of a potential trade deal with India is making the rounds.
LivestockPosted 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. All three of the livestock markets are trading higher into Tuesday's noon hour as traders believe fundamental support could be strong again this week. Still no bids or asking prices have surfaced in the fed cash cattle market, and it's expected trade will be delayed until Thursday or Friday.
Posted 08:36 -- 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 livestock contracts are back to rallying even though the equity markets remain timid. Traders seem to remain hopeful that fundamental support will prevail this week especially in the forms of stronger beef demand and at least steady cash cattle prices.
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