DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- Posted 12:44 -- May corn is up 1 1/2 cents per bushel, May soybeans are up 3 1/2 cents, May KC wheat is down 9 3/4 cents, May Chicago wheat is down 3 1/4 cents and MIAX May Minneapolis wheat is down 3 3/4 cents. The Dow Jones Industrial Average is up 30.86 points. The U.S. Dollar Index is down 0.180 and May crude oil is up $2.57 per barrel. June gold is up $3.70 per ounce. As we approach the Monday close, markets have moved little with corn and beans still up slightly and wheat remains weak on the prospect for better rain in the parched western Plains. Following comments from President Trump and Iran's refusal to accept a ceasefire agreement, crude oil and bean oil with it are rising again. Overnight and Tuesday morning trade could be very volatile and unpredictable. Corn export inspections continue to run over 500 mb above last year. In Brazil, the soy harvest has reached 87% complete.

Posted 10:32 -- May corn is up 1 cent per bushel, May soybeans are up 3 cents, May KC wheat is down 9 cents, May Chicago wheat is down 3 3/4 cents and MIAX May Minneapolis wheat is down 3 cents. The Dow Jones Industrial Average is up 55.10 points. The U.S. Dollar Index is down 0.160 and May crude oil is up $0.87 per barrel. June gold is up $14.70 per ounce. At midmorning corn is a penny higher, while beans and meal are still higher but well off the highs, and bean oil remains strong. Crude oil is higher on the news that Iran has rejected a ceasefire proposal. Wheat is still lower on better rain chances for the dry western Plains later in the week.

Posted 08:32 -- May corn is down 1 cent per bushel, May soybeans are up 4 3/4 cents, May KC wheat is down 9 1/4 cents, May Chicago wheat is down 5 3/4 cents and MIAX May Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average is down 105.06 points. The U.S. Dollar Index is down 0.330 and May crude oil is up $0.72 per barrel. June gold is up $11.30 per ounce. The soy complex is modestly firmer while wheat and corn are lower. Crude oil, after trading lower is up over $112 per barrel. Traders await this week's WASDE report but are likely to be more influenced by war developments. Volatility remains high along with uncertainty.

Posted 19:02 Sunday -- May corn is up 1/4 cent per bushel, May soybeans are up 1/2 cent, May KC wheat is down 3 3/4 cents, May Chicago wheat is steady and MIAX May Minneapolis wheat is down 1 3/4 cents. The Dow Jones futures are down 200 points. The U.S. Dollar Index is up 0.050 and May crude oil is up $2.01 per barrel. June gold is down $35.90 per ounce. Corn and beans open slightly firmer, but are now fading while wheat is mixed to lower and bean oil is up in sympathy with crude. Crude oil was up over $2.50 per barrel to over $114 per barrel, while the Dow Jones futures are more than 200 points lower. Uncertainty over the direction of the Iran conflict will keep trade very volatile. Job growth was much greater than expected as employers added 178,000 jobs in March and the unemployment rate fell to 4.3%. However, it is war news that continues to drive markets more.

Livestock

Posted 11:49 -- June live cattle are up $1.08 at $247.4, May feeder cattle are up $0.40 at $371.025, June lean hogs are up $2.40 at $106.875, May corn is up 1 1/4 cents per bushel and May soybean meal is up $1.70. The Dow Jones Industrial Average is up 134.20 points. All remains quiet in cash cattle country at midday with bids and asking prices not established. New showlists appear to be lower in all three major feeding areas. Beef cutouts are higher at midday (choice 388.96 +1.18, select 388.31 (+2.12) with light box movement (20 lds of choice cuts, 04 lds of select cuts, 05 lds of trim, and 03 lds of ground), with a choice/select spread of 0.65. Monday's projected cattle slaughter is 101,000. Pork cutouts at midday are 99.75, +0.80, with 94.03 total loads. Monday's project hog slaughter is 386,000.

Posted 08:39 -- June live cattle are up $2.00 at $248.325, May feeder cattle are up $1.80 at $372.425, June lean hogs are up $1.23 at $105.7, May corn is down 1 1/4 cents per bushel and May soybean meal is up $3.60. The Dow Jones Industrial Average is down 41.35 points. It is a very quiet Monday morning in cattle feeding country with bids and asking prices not established, significant trade volume will likely be delayed until much later in the week.

NOTE: Saturday, JBS workers agreed to return to work Tuesday, and will resume a new round of talks on Thursday and Friday, according to a news release from JBS. It said that it had received formal notification from the United Food and Commercial Workers, Local 7, that it will end its strike and has made an unconditional offer for employees to return to work. The Union says that workers remain united and will continue to fight until JBS fully ends unfair labor practices and pays a livable wage and will show them the respect they deserve.

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