DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Posted 12:50 -- May corn is down 3 cents per bushel, May soybeans are down 6 3/4 cents, May KC wheat is down 7 1/2 cents, May Chicago wheat is down 15 cents and MIAX May Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average is down 98.66 points. The U.S. Dollar Index is up 0.940 and April crude oil is up $3.92 per barrel. April gold is up $77.00 per ounce. Corn, soybeans, soymeal and wheat futures are down hard as we head to Monday's close, while bean oil stands alone on the upside along with the rally in crude oil. Expect volatility to remain high this week following the weekend strikes on Iran and the subsequent retaliation.

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Posted 10:35 -- May corn is down 5 cents per bushel, May soybeans are down 10 1/4 cents, May KC wheat is down 7 1/2 cents, May Chicago wheat is down 15 1/2 cents and MIAX May Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average is down 269.86 points. The U.S. Dollar Index is up 1.070 and April crude oil is up $4.24 per barrel. April gold is up $76.50 per ounce. At midmorning, only bean oil is higher. All of the other ag commodities are under heavy pressure led by soybeans and Chicago wheat.

Posted 08:32 -- May corn is down 2 1/4 cents per bushel, May soybeans are down 9 1/2 cents, May KC wheat is down 1/2 cent, May Chicago wheat is down 6 cents and MIAX May Minneapolis wheat is down 1 3/4 cents. The Dow Jones Industrial Average is down 535.11 points. The U.S. Dollar Index is up 0.850 and April crude oil is up $4.89 per barrel. April gold is up $87.10 per ounce. Corn is slightly weaker with wheat, soybeans and soymeal all lower. Soybean oil vaulted to a new high again early Monday on the heels of the strong crude oil reaction to weekend strikes on Iran.

Posted 19:11 Sunday -- March corn is down 1 cents and March soybeans are up 4 1/2 cents. March KC wheat is up 10 3/4 cents, March Chicago wheat is down 1/4 cents, and March MIAX Minneapolis wheat is up 15 3/4 cents. April crude oil is up $4.04 and Dow Jones futures are down 450 points. The U.S. Dollar Index is up 0.32 and April gold is up $90.10. Grain markets are mixed to higher on the open Sunday evening. The headline news heading into the new week is obviously the weekend military strikes by the United States and Israel against Iran, with the conflict ongoing as of Sunday evening. As a result, crude oil futures have gapped higher and to levels not seen since last June in the wake of the first series of U.S. military action against Iran, given the significance of the Strait of Hormuz to world oil trade. A general risk-on trade is likely for Monday, and potentially deeper into the week depending on the state of the conflict and progress of negotiations. The bullish outside influence of crude oil will likely spillover into other commodities such as row crops, especially those with an energy interest such as soybean oil and corn, the former up over 2% on the open.

Livestock

Posted 11;48 -- April live cattle are down $0.30 at $231.925, April feeder cattle are down $0.78 at $350.425, April lean hogs are down $0.45 at $95.275, May corn is down 3 3/4 cents per bushel and May soybean meal is down $7.10. The Dow Jones Industrial Average is down 33.74 points and NASDAQ is up 85.50 points. With sizeable outside pressure looming over the livestock complex a lower trend is expected through the day's close. New showlists appear to be lower in all major feeding states

Posted 08:41 -- April live cattle are down $1.45 at $230.775, April feeder cattle are down $2.25 at $348.95, April lean hogs are down $0.48 at $95.25, May corn is down 3 cents per bushel and May soybean meal is down $7.60. The Dow Jones Industrial Average is down 391.60 points and NASDAQ is down 123.94 points. Livestock is off to a weaker start as traders continue to feel the pressures of external stresses affecting the marketplace. It's likely that a downward trend will remain the theme throughout the day.

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