DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Posted 12:46 -- May corn is down 3 1/4 cents per bushel, May soybeans are up 6 1/2 cents, May KC wheat is down 10 3/4 cents, May Chicago wheat is down 13 3/4 cents and MIAX May Minneapolis wheat is down 12 1/4 cents. The Dow Jones Industrial Average is up 321.98 points. The U.S. Dollar Index is down 0.510 and April crude oil is down $13.46 per barrel. April gold is up $133.20 per ounce. Heading into the Tuesday close, grains and bean oil are weaker while soybeans and soymeal are firmer. Traders are holding out some hope China will return to buy more old-crop soybeans after the Trump-Xi summit at the end of the month. Crude oil has now corrected almost $40 per barrel from Monday's panic high.

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Posted 10:37 -- May corn is down 4 3/4 cents per bushel, May soybeans are up 4 1/2 cents, May KC wheat is down 14 1/4 cents, May Chicago wheat is down 15 1/4 cents and MIAX May Minneapolis wheat is down 14 1/2 cents. The Dow Jones Industrial Average is up 232.20 points. The U.S. Dollar Index is down 0.560 and April crude oil is down $10.94 per barrel. April gold is up $138.50 per ounce. At midmorning, wheat losses are accelerating, corn is down and soybeans are alone in the green. Hope for the upcoming trade meeting between the U.S. and China is likely the supportive factor.

Posted 08:31 -- May corn is down 2 1/2 cents per bushel, May soybeans are up 3 1/2 cents, May KC wheat is down 4 cents, May Chicago wheat is down 3 1/4 cents and MIAX May Minneapolis wheat is down 5 3/4 cents. The Dow Jones Industrial Average is down 44.65 points. The U.S. Dollar Index is down 0.540 and April crude oil is down $6.88 per barrel. April gold is up $119.90 per ounce. Corn and wheat are lower and soybeans a bit higher in quiet early trade Tuesday. Later we will have the March USDA and WASDE which seems to have taken a backseat to the Middle East conflict.

Livestock

Posted 11:24 =- April live cattle are up $2.30 at $232.45, April feeder cattle are up $3.78 at $350.325, April lean hogs are up $1.13 at $95.95, May corn is down 5 cents per bushel and May soybean meal is up $2.20. The Dow Jones Industrial Average is up 222.37 points and NASDAQ is up 124.94 points. The livestock complex is back to trading higher following Monday's weaker close. More than anything the market has found some renewed trader support, but that doesn't mean all the external pressures are gone as a strike still looms in Colorado.

Posted 08:38 -- April live cattle are up $1.08 at $231.225, April feeder cattle are up $2.58 at $349.125, April lean hogs are up $0.83 at $95.65, May corn is down 3 cents per bushel and May soybean meal is up $4.80. The Dow Jones Industrial Average is up 10.53 points and NASDAQ is up 60.52 points. Following Monday's tumultuous downturn in the cattle complex, the market has found a little more technical support this morning as currently both the live cattle and feeder cattle contracts are trading higher. Seeing the spot April contract move closer to its 100-day moving average is a position note as trading below that threshold sends a weaker tone over the market.

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