DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:52 -- May corn is up 7 1/2 cents per bushel, May soybeans are up 13 3/4 cents, May KC wheat is up 5 1/4 cents, May Chicago wheat is up 3 1/2 cents and MIAX May Minneapolis wheat is up 4 1/4 cents. The Dow Jones Industrial Average is down 336.49 points. The U.S. Dollar Index is up 0.400 and April crude oil is up $3.88 per barrel. April gold is down $68.70 per ounce. At midday there seems to be no let-up in grain and soy strength with soybean oil leading the way higher on heavy fund buying and rumors of a bullish RVO to be released. Crude oil continues to trade higher as the Strait of Hormuz remains closed. Funds have bought an estimated 10,000 contracts each of beans and bean oil. Funds are within 20,000 contracts of a record net-long.

Posted 10:40 -- May corn is up 7 1/4 cents per bushel, May soybeans are up 22 cents, May KC wheat is up 7 3/4 cents, May Chicago wheat is up 5 cents and MIAX May Minneapolis wheat is up 7 1/4 cents. The Dow Jones Industrial Average is down 417.44 points. The U.S. Dollar Index is up 0.380 and April crude oil is up $3.78 per barrel. April gold is down $66.30 per ounce. At midmorning, grain and soy markets are holding early gains, led by both bean oil and soybeans. Crude oil is rallying and equities are leaking lower. Traders are still optimistic on the upcoming U.S.-China trade representative meeting. Uncertainty and volatility are both running high due to the Middle East conflict.

Posted 08:39 -- 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 11:35 -- April live cattle are down $2.33 at $230.05, April feeder cattle are down $6.90 at $342.775, April lean hogs are down $0.78 at $95.3, May corn is up 9 cents per bushel and May soybean meal is up $2.30. The Dow Jones Industrial Average is down 413.14 points and NASDAQ is down 1.32 points. Some light cash cattle trade is currently being noted in the North at $372, which is $8.00 lower than last week's weighted average. A handful of steers have also been sold in Kansas at $235, which is $5.00 lower than last week's weighted average. Asking prices are noted in the North at $374 but are not established yet in the South.

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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