DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:49 -- July corn is down 11 3/4 cents per bushel, July soybeans are down 10 1/4 cents, July KC wheat is down 6 1/2 cents, July Chicago wheat is down 5 1/4 cents and July Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average is up 372.22 points. The U.S. Dollar Index is up 0.130 and June crude oil is down $1.51 per barrel. June gold is down $14.90 per ounce. At midday only soymeal is trading in the black with both corn and soy extending losses from the morning. A rapid planting pace and favorable first-half May forecast, and improving wheat conditions, are combining to weigh on values as is the ongoing China-U.S. trade dispute. Funds have been sizeable sellers of corn, soybeans and bean oil.

Posted 10:32 -- July corn is down 10 cents per bushel, July soybeans are down 16 cents, July KC wheat is down 6 1/2 cents, July Chicago wheat is down 5 cents and July Minneapolis wheat is down 2 1/4 cents. The Dow Jones Industrial Average is up 212.26 points. The U.S. Dollar Index is up 0.100 and June crude oil is down $1.19 per barrel. June gold is down $24.00 per ounce. At mid-morning all of the grain and soy markets have fallen sharply led by soybeans and corn. I am guessing that the above-average planting pace and the extended warmer and drier forecast is the driving force behind the weakness. Both KC and Chicago wheat have again scored fresh contract lows.

Posted 08:31 -- July corn is up 1 1/2 cents per bushel, July soybeans are down 5 1/4 cents, July KC wheat is up 2 3/4 cents, July Chicago wheat is up 5 cents and July Minneapolis wheat is up 4 1/4 cents. The Dow Jones Industrial Average is up 51.63 points. The U.S. Dollar Index is up 0.070 and June crude oil is down $0.96 per barrel. June gold is down $21.50 per ounce. USDA: Private exporters reported the following sales activity: 120,000 mt (4.7 mb) of corn for delivery to Spain during the 2024/2025 marketing year and 110,000 mt of soybeans (4 mb) for delivery to unknown destinations during the 2024-25 marketing year. Corn and wheat markets are firm early Tuesday while the soy complex is a bit weaker in quiet trade.

Livestock

Posted 11:38 -- June live cattle are up $1.10 at $210.7, August feeder cattle are up $2.63 at $297.575, June lean hogs are down $0.80 at $100.2, May corn is down 11 1/4 cents per bushel and May soybean meal is up $1.00. The Dow Jones Industrial Average is up 290.95 points and NASDAQ is up 42.06 points. The livestock complex is trading mixed as traders are leery of the technical resistance apparent in the lean hog complex, but are pushing the cattle contracts sharply higher. Still no trade has developed in the cash cattle market.

Posted 08:36 -- June live cattle are up $0.53 at $210.125, August feeder cattle are up $0.98 at $295.925, June lean hogs are up $0.15 at $101.15, pork cutout are down $0.42 at $97.62, May corn is up 1 cent per bushel and May soybean meal is down $0.90. The Dow Jones Industrial Average is up 53.75 points and NASDAQ is down 67.59 points. Thanks to the strong bullishness rooted in the cattle complex -- both the live cattle and feeder cattle markets are trading higher at Tuesday's start. No bids or asking prices have been posted yet and it's likely that the week's trade will be delayed until Friday again this week.

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