DTN's Quick Takes

Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)
Grains

OMAHA (DTN) -- Posted 12:48 -- May corn is up 5 cents per bushel, May soybeans are down 5 1/4 cents, May KC wheat is up 6 cents, May Chicago wheat is up 5 1/2 cents and MIAX May Minneapolis wheat is up 8 1/4 cents. The Dow Jones Industrial Average is down 93.50 points. The U.S. Dollar Index is up 0.630 and May crude oil is up $4.76 per barrel. April gold is down $24.90 per ounce. At midday, corn and wheat are showing strong gains along with soybean oil being slightly higher and soymeal and soybeans lower. Corn's strength seems to be coming from thoughts of sharp gains in fertilizer costs and the potential to shift corn acres to soybeans. Have heard little new input on the Iran conflict, but the rise in crude oil would suggest the war is ongoing.

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Posted 10:30 -- May corn is up 1/2 cent per bushel, May soybeans are down 3 1/2 cents, May KC wheat is down 3 cents, May Chicago wheat is down 5 1/4 cents and MIAX May Minneapolis wheat is up 1/4 cent. The Dow Jones Industrial Average is up 167.03 points. The U.S. Dollar Index is up 0.340 and May crude oil is up $2.94 per barrel. April gold is up $9.90 per ounce. At midmorning, equities have recovered and crude oil is slipping while ag commodities are mixed to mostly lower while bean oil is higher.

Posted 08:32 -- May corn is up 4 3/4 cents per bushel, May soybeans are down 4 3/4 cents, May KC wheat is up 2 1/2 cents, May Chicago wheat is up 1 1/4 cents and MIAX May Minneapolis wheat is up 1 cent. The Dow Jones Industrial Average is down 342.38 points. The U.S. Dollar Index is up 0.510 and May crude oil is up $4.25 per barrel. April gold is down $43.40 per ounce. Uncertainty and volatility tied to the Iran conflict continue to impact ag futures. Corn and wheat are firmer to start while soybeans and soy products are setting back early. Crude oil is moving higher again with equities falling as conflicting reports of war negotiations swirl.

Livestock

Posted 11;421 -- June live cattle are up $0.65 at $235.3, April feeder cattle are up $3.68 at $356.15, June lean hogs are down $0.53 at $103.875, May corn is up 4 cents per bushel and May soybean meal is down $4.60. The Dow Jones Industrial Average is up 17.74 points and NASDAQ is down 148.27 points. The livestock complex is mixed heading into Tuesday's noon hour as the cattle contracts are pleased to see a slight uptick in fundamental support from stronger midday boxed beef prices. But the lean hog contracts are trading lower as traders simply don't see enough support to push the contracts higher at this point.

Posted 08:34 -- June live cattle are down $0.48 at $234.175, April feeder cattle are down $1.03 at $351.45, June lean hogs are down $0.60 at $103.8, May corn is up 3 1/2 cents per bushel and May soybean meal is down $2.40. The Dow Jones Industrial Average is down 344.55 points and NASDAQ is down 112.62 points. The livestock complex is trading mostly lower into Tuesday morning as traders again look for continued fundamental support. With boxed beef prices mixed, pork cutouts lower and throughput slow, traders need something bullish to arrive this week to help keep the contracts stable.

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