DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- May corn is up 6 1/4 cents per bushel, May soybeans are up 18 1/4 cents, May KC wheat is up 11 1/4 cents, May Chicago wheat is up 8 1/2 cents and MIAX May Minneapolis wheat is up 6 3/4 cents. The Dow Jones Industrial Average is down 42.20 points. The U.S. Dollar Index is up 0.290 and April crude oil is up $1.51 per barrel. April gold is down $62.30 per ounce. Grain and soy markets are surging as the conflict in the Middle East appears to be accelerating with Iran hitting Israel and other neighboring nations. Crude oil has resumed part of its ascent as the Strait of Hormuz remains closed and G-7 nations contemplate an emergency oil reserve release.

Livestock

Posted 08:38 -- April live cattle are down $2.15 at $230.225, April feeder cattle are down $4.38 at $345.3, April lean hogs are down $0.25 at $95.825, May corn is up 6 cents per bushel and May soybean meal is down $0.20. The Dow Jones Industrial Average is down 56.08 points and NASDAQ is up 80.90 points. Following the slight uptick in which the market saw on Tuesday, the complex is back to trading lower as traders aren't confident that there's enough support to sustain a sizeable rally. A handful of dressed sales were reported in the North yesterday at $372 to $375, but not enough to say that a true test of the market has been established already this week.

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